50 years after Concorde, US start-up eyes supersonic future

Boom Supersonic co-founder, Blake Scholl, poses for a photograph in front of an artists impression of his company's proposed design for an supersonic aircraft, dubbed Baby Boom, at the Farnborough Airshow, south west of London, on July 18, 2018. (AFP)
Updated 22 July 2018
0

50 years after Concorde, US start-up eyes supersonic future

  • Boom Supersonic’s aircraft is expected by the company to fly for the first time next year
  • The Concorde was retired following an accident in 2000 in which a Concorde crashed shortly after takeoff from Paris, killing 113 people

WEYBRIDGE, United Kingdom: Luxury air travel faster than the speed of sound: A US start-up is aiming to revive commercial supersonic flight 50 years after the ill-fated Concorde first took to the skies.
Blake Scholl, the former Amazon staffer who co-founded Boom Supersonic, delivered the pledge this week in front of a fully-restored Concorde jet at the Brooklands aviation and motor museum in Weybridge, southwest of London.
Boom Supersonic’s backers include Richard Branson and Japan Airlines and other players are eyeing the same segment.
The company aims to manufacture a prototype jet next year but its plans have been met with skepticism in some quarters.
“The story of Concorde is the story of a journey started but not completed — and we want to pick up on it,” Scholl said.
The event coincided with the nearby Farnborough Airshow.
“Today... the world is more linked than it’s ever been before and the need for improved human connection has never been greater,” Scholl said.
“At Boom, we are inspired at what was accomplished half a century ago,” he added, speaking in front of a former British Airways Concorde that flew for the first time in 1969.

Boom Supersonic’s aircraft, dubbed Baby Boom, is expected by the company to fly for the first time next year.
“If we can’t continue where you left off, and build on that, then the shame is on us,” Scholl said, addressing himself to an audience that included retired Concorde staff.
“Our vision is to build a faster airplane that is accessible to more and more people, to anybody who flies.”
Boom Supersonic is making its debut at Farnborough and hopes to produce its new-generation jets in the mid-2020s or later, with the aim of slashing journey times by half.
The proposed aircraft has a maximum flying range of 8,334 kilometers (5,167 miles) at a speed of Mach 2.2 or 2,335 kilometers per hour.
If it takes off, it would be the first supersonic passenger aircraft since Concorde took its final flight in 2003.
The Concorde was retired following an accident in 2000 in which a Concorde crashed shortly after takeoff from Paris, killing 113 people.
Some analysts remain skeptical over the push back into supersonic.
“Supersonic is not what passengers or airlines want right now,” said Strategic Aero analyst Saj Ahmed, stressing that many travelers wanted cheap low-cost carriers instead.
Ahmed said supersonic jets were “very unattractive” because of high start-up development costs, considerations about noise pollution and high prices as well as limited capacity.

Independent air transport consultant John Strickland also noted supersonic travel was unproven commercially.
“Business traffic, on the face of it, is the most lucrative for airlines,” Strickland told AFP.
“But if there is an economic downturn or something happens where the market for business class traffic drains away, then you have nothing else left to do with that aircraft.
“I think it’s going to be some time before we see whether it can establish a large viable market... in the way that Concorde never managed to do.”
These concerns have not stopped interest from other players.
US aerospace giant Boeing had last month unveiled its “hypersonic” airliner concept, which it hopes will fly at Mach 5 — or five times the speed of sound — when it arrives on the scene in 20 to 30 years.
And in April, NASA inked a deal for US giant Lockheed Martin to develop a supersonic “X-plane.”


India names Modi demonetization backer as cenbank head

Visitors are seen standing next to a logo of the Reserve Bank of India (RBI) at the bank's head office in Mumbai on December 5, 2018. (AFP)
Updated 12 December 2018
0

India names Modi demonetization backer as cenbank head

  • Das — a high-profile backer of Modi’s controversial 2016 move to scrap high-value currency notes, known as demonetization

MUMBAI: Ex-finance ministry official Shaktikanta Das took charge of the Reserve Bank of India on Tuesday, in a swift appointment expected to ease a dispute with the government as it pushes for looser credit rules ahead of a general election.
The announcement by Prime Minister Narendra Modi’s administration came just a day after Urjit Patel resigned from the post, following months of clashes between the two institutions over lending curbs and how to deploy the central bank’s surplus reserves.
Pressure on the RBI to take immediate steps to boost the economy, including a transfer of the excess reserves to the government, could well rise after Modi’s ruling Bharatiya Janata Party (BJP) suffered likely election losses in three key states on Tuesday.
Das — a high-profile backer of Modi’s controversial 2016 move to scrap high-value currency notes, known as demonetization — will serve a three-year term as governor, effective immediately.
RBI watchers said they expected the 61-year-old, who retired last year as secretary of the department of economic affairs having previously served on the RBI’s board, to put relations between the Mumbai-based bank and the finance ministry in New Delhi on a stabler footing.
Investors will also look closely at his ability to hold up against outside influences after recent efforts by the Modi government to gain greater control over the central bank’s regulatory powers.
“The incoming governor will have to work hard to prove that he has his own independent mind,” said Deepak Jasani, head of retail research at Hdfc Securities.
Investors said any openly political appointee with little macro-economic experience, would not sit well with financial markets that already sold off following the BJP’s election setbacks.
But Ashish Vaidya, executive director and head of trading at DBS Bank in Mumbai, said he expected India’s debt and currency markets to react positively.
“He is a bureaucrat...We expect the RBI to take a pragmatic approach under him, be pro-growth and change its stance going ahead given that inflation has come off sharply,” he said.
Finance Minister Arun Jaitley told Reuters partner ANI that the government acknowledged the bank’s independence.
“Government will fully support the RBI and coordinate with it in areas where consultations of government are required to make sure India’s economy benefits from both government policy decisions and areas which fall within domain of the RBI,” ANI tweeted, quoting Jaitley.

SWIFT APPOINTMENT
Pronab Sen, India’s former chief statistician, said he was surprised by the speed of Das’s appointment.
“If you have a situation where a position as important as the governor of the RBI is filled within 24 hours of the resignation of the incumbent, that will raise eyebrows,” Sen told Reuters.
“People are going to say, clearly this guy had already been identified. And, the situation was created where Urjit Patel had to quit.”
Das — widely seen as a contender for the top RBI job after Raghuram Rajan’s term ended in 2016 — did not answer calls from Reuters to his mobile phone.
RBI officials who have worked with him closely said Das was likely to be more inclusive in the decision-making process than Patel.
“He has a balanced approach and is good at consensus building,” said a former deputy governor. .”..We have had our fair share of differences. But he has always been solution-centric rather than festering on those differences.”
Das worked in the finance ministry under both Modi’s government and the previous coalition led by the main opposition Congress party and was also involved in drafting the Insolvency and Bankruptcy code aimed at protecting small investors.
He came under fire for his pro-demonetization stance and was the most vocal bureaucrat at the time Modi withdrew the high-value bank notes to fight tax evasion.
Das last year criticized the methodology of global rating agencies and sought a sovereign rating upgrade for India.