The Aerion AS2 supersonic business jet, being developed by Aerion and Lockheed Martin. Aerion Corporation
The Aerion AS2 supersonic business jet, being developed by Aerion and Lockheed Martin. Aerion Corporation
The Aerion AS2 supersonic business jet, being developed by Aerion and Lockheed Martin. Aerion Corporation
The Aerion AS2 supersonic business jet, being developed by Aerion and Lockheed Martin. Aerion Corporation

Supersonic business jet to cut New York-London flight to four hours


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As the second era of faster-than-sound air travel nears, one of the niche industry’s pioneering players is looking further into the future—toward flights that are even faster.

Aerion, the supersonic jet builder founded by Texas billionaire Robert Bass, plans to deliver its first AS2 business jet in 2027, with top speeds of 1.4 times the speed of sound, or about 1,074 mph—roughly double that of traditional commercial aircraft. Still, with rivals like Boom Technologies and others advancing their own supersonic plans, Aerion chief executive Tom Vice is already anticipating the arrival of hypersonic travel.

“Our long-term vision is to allow people to travel between any two points on the planet within three hours,” Mr Vice said October 2 in an interview with Bloomberg News. To do so — and to avoid the physical rigors and technical complexities of suborbital space flight — Aerion’s next craft would have to cruise within the atmosphere at more than four times the speed of sound, or about 3,000 mph.

  • Boom Supersonic's demonstrator aircraft XB-1 is seen parked at an airfield in Denver, Colorado, in an undated photograph released October 7, 2020. Boom Supersonic/Nathan Leach-Proffer/Handout via REUTERS.
    Boom Supersonic's demonstrator aircraft XB-1 is seen parked at an airfield in Denver, Colorado, in an undated photograph released October 7, 2020. Boom Supersonic/Nathan Leach-Proffer/Handout via REUTERS.
  • Passengers aboard a Concorde supersonic jetliner flight await lunch as the delta-winged aircraft cruises over the Atlantic Ocean at twice the speed of sound in May 1978. The digital display on the left bulkhead at the front of the cabin shows that the plane has reached Mach 2. AP
    Passengers aboard a Concorde supersonic jetliner flight await lunch as the delta-winged aircraft cruises over the Atlantic Ocean at twice the speed of sound in May 1978. The digital display on the left bulkhead at the front of the cabin shows that the plane has reached Mach 2. AP
  • An artist's impression shows Boom's 55-seat supersonic aircraft in this undated handout. Reuters/Boom Supersonic.
    An artist's impression shows Boom's 55-seat supersonic aircraft in this undated handout. Reuters/Boom Supersonic.
  • Boeing has tied up with Aerion to bring its AS2 supersonic business jet to market. Courtesy Boeing
    Boeing has tied up with Aerion to bring its AS2 supersonic business jet to market. Courtesy Boeing
  • The Aerion AS2, the world's first supersonic business jet, being developed by Lockheed Martin partnering with plane maker Aerion of Reno, Nevada, is shown in this handout photo illustration. Aerion Corporation/Handout via Reuters
    The Aerion AS2, the world's first supersonic business jet, being developed by Lockheed Martin partnering with plane maker Aerion of Reno, Nevada, is shown in this handout photo illustration. Aerion Corporation/Handout via Reuters
  • Texas billionaire Robert Bass stands with a model of a planned supersonic business jet during a news conference at the National Business Aviation Association Convention & Exhibition in Orlando, Florida. Bass’s Aerion will get help from Airbus in its quest to have the supersonic jet ready by 2021. Bloomberg
    Texas billionaire Robert Bass stands with a model of a planned supersonic business jet during a news conference at the National Business Aviation Association Convention & Exhibition in Orlando, Florida. Bass’s Aerion will get help from Airbus in its quest to have the supersonic jet ready by 2021. Bloomberg
  • Aerion say its “boomless cruise” technology will prevent sonic booms from reaching the ground. Illustration: Aerion
    Aerion say its “boomless cruise” technology will prevent sonic booms from reaching the ground. Illustration: Aerion
  • Aerion says its AS2 supersonic aircraft will cruise at Mach 1.4, allowing for a New York-to-London flight in four hours. Illustration: Aerion
    Aerion says its AS2 supersonic aircraft will cruise at Mach 1.4, allowing for a New York-to-London flight in four hours. Illustration: Aerion
  • Space company Virgin Galactic on August 3, 2020, announced a preliminary partnership with engine maker Rolls Royce to build an airliner capable of flying at three times the speed of sound. Courtesy of Virgin Galactic
    Space company Virgin Galactic on August 3, 2020, announced a preliminary partnership with engine maker Rolls Royce to build an airliner capable of flying at three times the speed of sound. Courtesy of Virgin Galactic
  • Boom Supersonic's demonstrator aircraft XB-1 is seen parked at a hangar in Denver, Colorado, in an undated photograph released on October 7, 2020. Boom Supersonic/Nathan Leach-Proffer/Handout via Reuters
    Boom Supersonic's demonstrator aircraft XB-1 is seen parked at a hangar in Denver, Colorado, in an undated photograph released on October 7, 2020. Boom Supersonic/Nathan Leach-Proffer/Handout via Reuters
  • A first for British Airways as a supersonic jet gets set to take off from London bound for Bahrain on January 21, 1976. Courtesy British Airways
    A first for British Airways as a supersonic jet gets set to take off from London bound for Bahrain on January 21, 1976. Courtesy British Airways
  • Dubai aviation officials watch the arrival of Pepsi's Concorde, leased from Air France and sporting the new electric-blue Pepsi colours, which stopped over in the emirate on April 7 while on a whirlwind marketing tour of the Middle East. The visit is part of a $500 million project called " Project Blue" to win back market shares from Coca-Cola. While in Dubai, Pepsi took 100 VIP guests on a supersonic flight. The flight arrived from Beirut and will continue on to Jeddah and Cairo. Reuters
    Dubai aviation officials watch the arrival of Pepsi's Concorde, leased from Air France and sporting the new electric-blue Pepsi colours, which stopped over in the emirate on April 7 while on a whirlwind marketing tour of the Middle East. The visit is part of a $500 million project called " Project Blue" to win back market shares from Coca-Cola. While in Dubai, Pepsi took 100 VIP guests on a supersonic flight. The flight arrived from Beirut and will continue on to Jeddah and Cairo. Reuters

Aerion, which is moving its headquarters from Reno, Nevada, to Melbourne, Florida—adjacent to its planned assembly center—is one of several firms in the nascent field of supersonic civil aviation, which has been heating up this year despite the economic shocks of the coronavirus pandemic.

Virgin Galactic Holdings surprised some investors in August with plans for a Mach 3 aircraft seating as many as 19 people, an interim step on the company’s path toward eventual hypersonic point-to-point travel. Virgin’s supersonic project is being assisted by Rolls-Royce, which is also working with Boom on supersonic engine technologies.

And a fourth player, Boston-based Spike Aerospace, plans a 12-18-passenger supersonic jet that cruises at Mach 1.6 and has range to cover nonstop flights from London to Hong Kong and Dubai to New York. The company hasn’t offered a timeline for its development, however.

While many companies in this space have been big on pronouncements, the engineering obstacles to bringing a new generation of supersonic planes—let alone hypersonic planes—to market are nothing to sniff at. Aerion’s aspiration to hypersonic speeds comes almost five years before it even plans to build a production-model of its $120 million supersonic business jet, and seven years before the first delivery, assuming everything goes right.

Boeing holds an equity stake in Aerion, while General Electric is designing and building a new Affinity supersonic engine for the company.

Aerion said it plans further capital raises over the next three or four years and will add additional equity investors before it turns to the debt market for financing, Vice said.

Boom Technologies, meanwhile, plans a $200m supersonic jet that can carry 65 to 85 passengers at more than twice the speed of sound, which it said will enter service by 2030. The company has orders for 30 jets from Japan Airlines and Virgin.

Colorado-based Boom plans to introduce a one-third demonstration model on Wednesday, the XB-1, which will allow the company to begin flight testing in 2021 to glean data on the jet’s wings and fuselage. Boom plans to use three GE J85 engines to power the XB-1 and is evaluating engine designs with Rolls-Royce for the production aircraft, which Boom calls Overture.

Mr Vice argues that Aerion has an advantage over supersonic competitors when it comes to engine development, pointing to its partnership with GE and its plan to build the first commercial supersonic power plant in more than five decades. The design is exclusive for Aerion, said Mr Vice, who declined to disclose how much the engine development will cost or how it’s being financed.

“Somebody else wanting to build a supersonic business jet—they’re going to have to go find a different engine,’’ Mr Vice said. Aerion “for sure” will be the first new supersonic commercial aircraft to market, he predicted. “We’ll get there years ahead of anybody else.”

Aerion said it scoured the world for an engine, including Russian designs that would meet noise restrictions, fuel-burn requirements and reliability over thousands of hours of high-speed flying. No existing engines fit the bill, though. Instead, the company turned to GE to build an engine with 20,000 pounds of thrust, special acoustic linings to reduce take-off noise and dual turbo-fans that don’t require fuel-guzzling afterburners.

GE’s Affinity engine will also be the first designed to run on traditional kerosene and synthetic fuel made in part by capturing carbon dioxide from the air. GE spokesman Nick Hurm confirmed the company’s “unique commercial agreement with Aerion” to build the engine, but declined to disclose financial terms.

Cruising at Mach 1.4, the AS2 would allow for a New York-London flight in four hours or London-Chicago in five hours, each two hours faster than conventional jet flights. The company said it has a $3.5 billion order backlog.

As if making supersonic work again wasn’t hard enough, some of these companies are also working toward what they say will be an environmentally responsible means of travel, without the extreme noise or emissions that accompanied the former Concorde.

Unlike that aircraft’s sonic boom, Aerion contends its “boomless cruise” technology will make the boom refract off a denser, lower layer of air, never reaching the ground. Aerion and Boom also plan to use new synthetic fuels to reduce carbon output.

At some point in the future, as supersonic develops into a viable mode for civil aviation, well-heeled travellers keen to save even more time may be able to turn to hypersonic flights—where cruise velocities can top Mach 5.

Recently, hypersonic flight has been in the news as Russia, China and the US invest enormous research and funds into new, nuclear-capable missiles and uncrewed drones. (Orbital space vehicles routinely re-enter the earth’s atmosphere at Mach 25, or 19,000 mph; meanwhile, several military fighter jets can top Mach 2, or 1,500 mph.)

“Supersonic business jets remain an intriguing idea. Supersonic airliners remain unlikely,” said Richard Aboulafia, an aerospace analyst with the Teal Group. “Hypersonic travel remains a very remote prospect. If anyone can build a hypersonic weapon that functions (other than a rocket), then a few decades later we might see this technology commercialised.”

Nevertheless, pledges to reach such speeds for commercial travel have already been made. Elon Musk’s Space Exploration Technologies and Virgin Galactic have said their eventual high-speed point-to-point aircraft service will operate above earth’s atmosphere, at hypersonic speeds, unlike envisioned supersonic aircraft that cruise at lower altitudes, around 60,000 feet.

Mr Vice said Aerion is focused on speeds around Mach 4.3 for the AS3 because of heating, shock waves and other tricky engineering issues that emerge at Mach 5 and above.

“I think it’s really exciting, frankly, that there are a number of companies now in this space thinking of high-speed flight,” Mr Vice said. “I’m encouraged by that. There are a lot of really great folks who are trying to find different paths. But you’ve got to solve the engine issue.”

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
HAEMOGLOBIN DISORDERS EXPLAINED

Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.

Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.

The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.

The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.

A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

The specs: 2018 Nissan Patrol Nismo

Price: base / as tested: Dh382,000

Engine: 5.6-litre V8

Gearbox: Seven-speed automatic

Power: 428hp @ 5,800rpm

Torque: 560Nm @ 3,600rpm

Fuel economy, combined: 12.7L / 100km

Company%20profile
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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

UAE currency: the story behind the money in your pockets
The biog

Title: General Practitioner with a speciality in cardiology

Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India

Education: Medical degree from the Government Medical College in Nagpur

How it all began: opened his first clinic in Ajman in 1993

Family: a 90-year-old mother, wife and two daughters

Remembers a time when medicines from India were purchased per kilo

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
The years Ramadan fell in May

1987

1954

1921

1888

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%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ERemedy%20Entertainment%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Microsoft%20Game%20Studios%3Cbr%3E%3Cstrong%3EConsoles%3A%3C%2Fstrong%3E%20PlayStation%204%20%26amp%3B%205%2C%20Xbox%3A%20360%20%26amp%3B%20One%20%26amp%3B%20Series%20X%2FS%20and%20Nintendo%20Switch%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
MATCH INFO

League Cup, last 16

Manchester City v Southampton, Tuesday, 11.45pm (UAE)

About Okadoc

Date started: Okadoc, 2018

Founder/CEO: Fodhil Benturquia

Based: Dubai, UAE

Sector: Healthcare

Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth

Funding stage: Series B fundraising round to conclude in February

Investors: Undisclosed

Day 4, Abu Dhabi Test: At a glance

Moment of the day Not much was expected – on Sunday or ever – of Hasan Ali as a batsman. And yet he lit up the late overs of the Pakistan innings with a happy cameo of 29 from 25 balls. The highlight was when he launched a six right on top of the netting above the Pakistan players’ viewing area. He was out next ball.

Stat of the day – 1,358 There were 1,358 days between Haris Sohail’s previous first-class match and his Test debut for Pakistan. The lack of practice in the multi-day format did not show, though, as the left-hander made an assured half-century to guide his side through a potentially damaging collapse.

The verdict As is the fashion of Test matches in this country, the draw feels like a dead-cert, before a clatter of wickets on the fourth afternoon puts either side on red alert. With Yasir Shah finding prodigious turn now, Pakistan will be confident of bowling Sri Lanka out. Whether they have enough time to do so and chase the runs required remains to be seen.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Three ways to boost your credit score

Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:

1. Make sure you make your payments on time;

2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;

3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.

Who is Mohammed Al Halbousi?

The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.

The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.

He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.

He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.

He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.

Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Army of the Dead

Director: Zack Snyder

Stars: Dave Bautista, Ella Purnell, Omari Hardwick, Ana de la Reguera

Three stars

BRIEF SCORES

England 228-7, 50 overs
N Sciver 51; J Goswami 3-23

India 219, 48.4 overs
P Raut 86, H Kaur 51; A Shrubsole 6-46

England won by nine runs

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