American Airlines Announces Agreement to Purchase Boom Supersonic Overture Aircraft, Places Deposit on 20 Overtures

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Aug 16, 2022, 08:01 ET

American, the world's largest airline, poised to have the world's largest supersonic fleet with new Boom Supersonic aircraft

FORT WORTH, Texas and DENVER, Aug. 16, 2022 /PRNewswire/ -- American Airlines and Boom Supersonic today announced the airline's agreement to purchase up to 20 Overture aircraft, with an option for an additional 40. American has paid a non-refundable deposit on the initial 20 aircraft. Overture is expected to carry passengers at twice the speed of today's fastest commercial aircraft.

Boom Supersonic's Overture would introduce an important new speed advantage to American's fleet, which is currently the simplest, youngest and most efficient among U.S. network carriers. Under the terms of the agreement, Boom must meet industry-standard operating, performance and safety requirements as well as American's other customary conditions before delivery of any Overtures.

"Looking to the future, supersonic travel will be an important part of our ability to deliver for our customers," said Derek Kerr, American's Chief Financial Officer. "We are excited about how Boom will shape the future of travel both for our company and our customers."

Overture is being designed to carry 65 to 80 passengers at Mach 1.7 over water — or twice the speed of today's fastest commercial aircraft — with a range of 4,250 nautical miles. Optimized for speed, safety and sustainability, Overture is also being designed to fly more than 600 routes around the world in as little as half the time. Flying from Miami to London in just under five hours and Los Angeles to Honolulu in three hours are among the many possibilities.

"We are proud to share our vision of a more connected and sustainable world with American Airlines," said Blake Scholl, Founder and CEO of Boom. "We believe Overture can help American deepen its competitive advantage on network, loyalty and overall airline preference through the paradigm-changing benefits of cutting travel times in half."

In July, Boom revealed the final production design of Overture, which is slated to roll out in 2025 and carry its first passengers by 2029.

About American Airlines Group

To Care for People on Life's Journey^®. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL and the company's stock is included in the S&P 500. Learn more about what's happening at American by visiting news.aa.com and connect with American on Twitter @AmericanAir and at Facebook.com/AmericanAirlines.

About Boom Supersonic

Boom Supersonic is transforming air travel with Overture, the world's fastest airliner, optimized for speed, safety, and sustainability. Serving both civil and government markets, Overture will fly at twice the speed of today's airliners and is designed to run on 100% sustainable aviation fuel (SAF). Overture's order book, including purchases and options from American Airlines, United Airlines, and Japan Airlines stands at 130 aircraft. Boom is working with Northrop Grumman for government and defense applications of Overture. Suppliers and partners collaborating with Boom on the Overture program include Collins Aerospace, Eaton, Safran Landing Systems, Rolls-Royce, the United States Air Force, American Express, Climeworks, and AWS. For more information, visit https://boomsupersonic.com

Photos and video available at https://boomsupersonic.com/press

Connect with Boom Supersonic on Twitter, LinkedIn, Facebook, Instagram, YouTube

Cautionary statement regarding forward-looking statements and information

Certain of the statements contained in this release should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "project," "could," "should," "would," "continue," "seek," "target," "guidance," "outlook," "if current trends continue," "optimistic," "forecast" and other similar words. Such statements include, but are not limited to, statements about the company's plans, objectives, expectations, intentions, estimates and strategies for the future, the continuing availability of borrowings under revolving lines of credit, and other statements that are not historical facts. These forward-looking statements are based on the company's current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein as well as in the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 (especially in Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors), and other risks and uncertainties listed from time to time in the company's other filings with the Securities and Exchange Commission. In particular, the consequences of the coronavirus outbreak to economic conditions and the travel industry in general and the financial position and operating results of the company in particular have been material, are changing rapidly, and cannot be predicted. Additionally, there may be other factors of which the company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.

SOURCE Boom Supersonic