Almost 20 years have passed since Concorde was retired.
American Airlines has an option to purchase 40 more jets from Boom Supersonic.
The first passengers on the Overture jets are expected to arrive in 2029, when the jets are expected to roll off the production line. The Concorde flew at a top speed.
American is the third airline to place an order for the jets after United Airlines and Virgin Atlantic.
The founder and chief executive of Boom believes that the benefits of cutting travel times in half can help American deepen its competitive advantage.
The business class rates for the Overture will be the same as for Concorde, but with less passengers and less capacity.
Scholl told the Guardian that the tickets would be affordable.
He said that he started this because he was sad that he wouldn't be able to fly on Concorde. I waited but nobody was doing it. I want people to be able to go anywhere in the world in five hours. supersonic air travel will be available for everyone if you improve fuel efficiency. It is affordable and supersonic passenger air travel.
supersonic travel will be an important part of our ability to deliver for our customers. The future of travel is going to be shaped by Boom.
The new aircraft could fly around 600 routes around the world, according to Boom. It says it would take 3.5 hours to fly from London to New York and 5 hours to fly from London to Miami.
Boom must meet industry-standard operating, performance and safety requirements as well as American's other customary conditions before delivering any Overtures.
When asked about the carbon footprint of the flights, Boom did not reply immediately.
The supersonic Concorde was retired in 2003 after 27 years of service. It was three years after an Air France Concorde flight crashed on takeoff at Paris killing all of the passengers and four people on the ground.