Boeing has been working on sonic & supersonic jets for sometime now. The current focus is on Sonic Cruiser, a jet that will save 20% off long-distance flights with the same fuel efficiency. That means flights from NYC to LAX in just five hours instead of six.
Boeing Commercial Airplanes is focusing its new product development efforts on a design that allows faster, higher travel. The Sonic Cruiser will travel at speeds between Mach 0.95 and Mach 0.98. Cruise altitude will be in the mid-40,000 foot (above 13,000 meters) level. Initial range of the airplane will likely be between 6,000 and 7,500 nautical miles. The new jet is in the early phases of development and may change as Boeing works with its customers to understand their requirements.