The plans to build a new Concorde are said to be very close to getting a green light on financing from several large Chinese banks making this the most viable option yet to the supersonic jet replacement which was removed from service in 2003.

Several smaller groups of American businessmen have long since been studying the possibility of creating a smaller version of Concorde purely aimed at the business elite but the plans involve building 10 or 12 seater supersonic jets and will undoubtedly be shelved due to plans not meeting approval from the government.

A Japanese newspaper however have declared that a number of multi-national billion dollar companies will join forces to bring the dream to life within the next 5 years.

The Paris air show saw a new 3 year deal being signed to enable a feasibility study following a statement released by Japan’s trade ministry and a team will be assembled to start looking into the possibility of eliminating the problems that encompassed Concorde and issues like sonic boom and high noise ratio will be their priority.

The Japan Aerospace Exploration Agency, the Engineering Research Association for Supersonic Transport Propulsion System (including companies such as Mitsubishi, Kowasaki) and French Aeronautics and Space Research Center, and French aircraft engine manufacturer Snecma will sign additional agreements to set the wheels in motion for a super plant development centre based in the US.

Allegedly the next generation supersonic passenger airliners are more of a reality than a myth and that the newer planes will fly at twice the speed of sound and perhaps faster still. The speed of sound is 761 mph and In aerodynamics the sound barrier is the transition at transonic speeds from subsonic to supersonic travel, usually referring to flight.

Concorde, the world's first supersonic passenger jet, entered service in 1976. It went through a 16-month hiatus after a crash in July 2000, and finally stopped operating in October 2003 due to heavy maintenance costs and noise issues. British Airways and Air France, used the aircraft on trans-Atlantic services much to the annoyance of the US and complaints about noise forced the plane to have to fly a subsonic speeds while flying over the States.

With a cruising speed of 1350 miles an hour it was able to transport passengers from London to New York in less than three hours, compared to an eight-hour flight for subsonic airliners.

The initial demise of Concorde came however when an Air France plane caught fire in July 2000 shortly after takeoff over France. It crashed, killing 113 people, including four on the ground. The aircraft was taken out of service until November 2001.But the Concorde never really recovered.