Denver - After Concorde was taken out of service in 2003, commercial supersonic flights will restart soon, according to Blake Scholl, the founder, and CEO of the American high-tech company Boom Technology which is currently developing a supersonic jet called XB-1.

So far, five airlines have placed 76 orders for the new supersonic aircraft of the Boom Technology. Virgin and the Japan Airlines (JAL) are the only known operators to order the plane. Virgin ordered ten copies, and JAL ordered 20 copies. The other three customers will be announced at special events respectively.

We now have everything required to build history's first independently developed supersonic aircraft—the funding, technical design, and manufacturing partners,
said Scholl.

The manufacturer plans to deliver the first supersonic jet by 2023. According to Boom Technology, the average flight time from Paris to New York will decrease from seven to three and a half hours when the supersonic airliner will fly at its maximum speed of 2.2 mach. (Concorde, which entered service 48 years ago, had a top speed of Mach 2.)

A flight from San Francisco to Tokyo will take just over five hours, compared to the current eleven hours. A business class ticket from London to New York will cost around $5,000. The aircraft will come in two different configurations - 55 seats in Business class or 15 business with 30 first class seats.