American Airlines is getting into supersonic travel with major Boom order

Published

2 years ago

August 17, 2022

What was once a pipe dream – to fly as they did on the Concorde – American Airlines is bringing back supersonic travel.

The US airline has agreed to purchase 20 supersonic Overture planes from Boom Supersonic.

The deal is the second firm order in the last two years for Boom, which is still years from building its first commercial airplane.

“Passengers want flights that are faster, more convenient, more sustainable and that’s what Overture delivers,” Boom CEO Blake Scholl told CNBC.

“Flight times can be as little as half as what we have today, and that works great in networks like American where we can fly Miami to London in less than five hours.”

Last year United Airlines made a commitment to buy 15 Overture jets.

Boom says the Overture jet will dramatically cutting trans-Atlantic and trans-Pacific flight times.

“Supersonic travel will be an important part of our ability to deliver for our customers,” American’s chief financial officer, Derek Kerr, said in a statement announcing the order.

American has the option to purchase another 40 Overtures in the future.

US stocks surge as banks report record profits

US stocks rise as banks report near-record profits; CPI slows, fueling hopes for continued Federal Reserve rate cuts.

Published

5 hours ago

January 16, 2025

ticker NEWS

US stocks rise as banks report near-record profits; CPI slows, fueling hopes for continued Federal Reserve rate cuts.

US stocks rose sharply following strong earnings reports from four major banks: JPMorgan, Goldman Sachs, Citigroup, and Wells Fargo.

The banks reported their second-most profitable year ever.

JPMorgan achieved a historic milestone by becoming the first US bank to exceed $50 billion in annual profit.

Goldman Sachs saw record revenue from its equities trading division.

Citigroup reported record revenue in three of its five key segments: wealth management, US personal banking, and services.

Wells Fargo, while having the smallest presence on Wall Street, recorded a 62 per cent increase in annual revenue from investment banking.

Bank of America and Morgan Stanley are set to announce their results on Friday AEDT.

In other news, the core Consumer Price Index (CPI) for December rose at a slower rate than anticipated, indicating a potential easing of inflation.

This development has strengthened expectations that Federal Reserve policymakers may have room to continue cutting rates.

Consequently, the yield on the US 10-year bond dropped by 14 basis points to 4.66 per cent.

Similarly, UK yields fell by 16 basis points to 4.73 per cent after services inflation in the UK decreased to 4.4 per cent in December, down from 5 per cent in November, a more significant decline than the 4.8 per cent economists had predicted.

Money

Bitcoin rises 2% as market awaits inflation report

Published

19 hours ago

January 15, 2025

ticker NEWS

As of January 15, 2025, Bitcoin (BTC) is trading at approximately $97,198, reflecting a 2.17% increase over the past 24 hours. The cryptocurrency’s market capitalisation stands at around $1.93 trillion, with a 24-hour trading volume of about $54.23 billion.

This recent uptick comes as investors anticipate the upcoming U.S. inflation report, which could influence the Federal Reserve’s monetary policy decisions.

Money

Recovery on the horizon: investing in growth

Published

3 days ago

January 13, 2025

ticker NEWS

The ‘gloom to soon’ signal points to shares and property gains

Money Minute features finance expert Dr. Steve Enticott from CIA Tax, guiding audiences through practical advice and innovative strategies for financial freedom.