New supersonic jet aims to take you from New York to London in under 4 hours

A Colorado-based startup company called Boom has revealed a small-scale prototype of its high-speed passenger plane which has been described as a modern version of the Concorde.

The aircraft is reportedly being designed to carry more than 40 passengers and fly at 1,450 miles per hour.

This rate is considered to be around 2.6 times the speed of current carriers and is projected to cut the flight time from New York to London by half, to about 3.5 hours.

One of the partners in the venture is Virgin Group, headed by Richard Branson.

See photos of the plane:

Branson has been quoted as saying, "We're excited to have an option on Boom's first 10 airframes."

The current scaled-down XB-1 demonstrator model is expected to fly by the end of next year while a full-scale version is being aimed for service by 2020.

The cost of a ticket is expected to be around $5,000.