A crew of ambitious aeronautical engineers claims it can build a supersonic business jet that will fly from Tokyo to Los Angeles in just eight hours. But there is one catch: It will cost a prospective buyer about $80 million.

The Boston-based Spike Crew is about to embark on the construction of the Spike Aerospace S-512, which will fly at speeds of up to Mach 1.8 (1,370 mph) and be able to carry about 18 passengers.

The team is made up of former Airbus (BMAD:EAD), Bombardier Inc. (TO:BBDb) and Gulfstream (NYSE:GD) engineers, with a sprinkling of entrepreneurs and investors. But they're not the first to promise a supersonic private jet. In 2009, Aerion promised a 12-seat jet that would be ready for take-off in 2015 and cost exactly $80 million, but that estimate has been pushed back to 2021. Spike claims its plane will be available in December 2018.

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Whichever jet is ready first, it will meet with some strict FAA legislation that bans supersonic travel across the continental U.S., with just a few exceptions. So for now, Spike and Aerion are limited to flying across oceans. Major airline manufacturers, and even NASA, have been working on a way to have aircraft travel at supersonic speeds without causing a sonic boom.

The big price tag and travel limitations mean that Gulfstream’s 550 jet and The Boeing Company's (NYSE:BA) Business Jet, coming in at $59.9 million and $55.5 million, respectively, don’t have much to worry about just yet. 

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