I think that today the supersonic airliner market is still quite tough, because first class has gotten so good. For transatlantic, you only save four hours, and you can spend that sleeping fairly comfortably or using your computer with provided power and pretty good Wi-Fi.
Where there is more legitimate value is transpacific, where supersonic might shave 10 hours. However, due to the higher fuel burn, there's almost no way to avoid stopping for gas, which erodes the advantage both in time and comfort.
It's mostly a case of dialing in the space and price per passenger for the market. Given enough space and entertainment options--hey, live performances in the lounge!, celebrity chefs--very few of us really care that much about getting to a destination 12 hours faster.
What you are probably thinking of is that drag peaks in the transonic region (Mach 0.95-.99, say) but the Mach 0.85-.9 mostbairliners cruise at is much lower drag than either.
A Supercuruising Concorde has higher fuel flow than a (much much larger) 747.
Your whole “engines more efficient at higher speed” argument is totally unsupported by facts. Supersonic flow is a major problem is jet engines. They have to use special very-high drag inlets to slow it down to subsonic velocity to actually combust.
The air being thinner doesn’t help, either. It’s basic chemistry... every unit of fuel you burn requires X units of oxygen. The density doesn’t really matter - except that denser air moving slower decelerates less and thus causes less drag.
Vehicle A takes 10 gallons of fuel to move 4 passengers 500 miles.
Vehicle B takes 40 gallons of fuel to move 4 passengers 500 miles.
In what possible universe is vehicle B more fuel efficient than Vehicle A?
I'm saying put vehicle A's engine in vehicle B to make some far more efficient vehicle C and it'll only take 5 gallons of fuel to move 4 passengers 500 miles.
It's probably true that Concorde, with its supersonic optimized design would have been less efficient traveling at Mach 0.95, even when traveling at its optimum speed a subsonic optimized airliner is going to require significantly less fuel per passenger mile. I mean this is one reason Concorde failed: the oil crisis turned its high fuel consumption into a serious liability.
The important thing to remember here is that at the same time as the concorde was being developed, another technbology, the high bypass turbofan, was also developed. This looks like and is commonly referred to by the layperson as a jet engine, but the two are very different. A Turbofan is 10 to 50 times more efficient than an afterburning turbojet, regardless of speed. The concorde didn't have turbofans, the planes it was competing with did. You slap the concorde's engines onto any other airframe and fly at any other speed, it's still going to burn an order of magnitude more fuel than a turbofan aircraft.
Compare the concorde to turbojet powered aircraft it is competitive. The turbojet powered boeing 720 got 16 passenger miles per gallon and the 727 got 10. In that context the concorde's 17 at over twice the speed looks pretty good.
Drag is proportional to density times velocity squared
flying through air with 30% the density at 2.5 times the speed thus produces (.3)x(2.5^2) = 1.875 times the drag.
Using 1.875 times the power for 1/2.5 = 0.4 times as long requires (0.4)x(1.875) = 0.75 times as much energy.
This is before you consider that jet engines moving at higher speeds and higher altitudes are more fuel efficient.
The 737 uses turbofans which are much more efficient than the concorde's turbojets. Trying to compare their fuel consumption is meaningless unless you account for this. If you compare the concorde to a subsonic turbojet of its era, like the 727, the concorde burns significantly less fuel per passenger mile.
Interesting to consider a Concorde like design today using a slightly scaled up version of the P&W F135 supercruise capable turbofans.
But you'd still be competing with highly efficient turbofans like the GEnx series in a cost dominated aviation market. Also you still have issues like not being able to fly over land in the US that seriously limit the potential market.
This is false. First, drag is proportional to air density, not pressure, with density at FL600 being 30% of FL350. Drag is increased by 1.728 times[1], which means thrust required is increased by 1.728 times, but energy required is not linearly proportional to thrust required. As a jet engine moves at higher speeds and through less dense air, it's efficiency increases and therefore the power required to produce a unit of thrust decreases. So even though you need 1.728 times the thrust, you need less that 1.728 times the power. Even if it were the same amount of power, at 2.44 times the speed you are only expending that power for 41% of the time, and thus the energy consumption would be 73%.
There are plenty of very valid concerns with regards to the concorde and supersonic transport in general. For starters, you can't simply slap a modern turbofan on there and call it a day, you'd have to sacrifice decades of lessons learned to make high bypass turbofans of the necessary size, so they're still going to be inferior to more refined engines on subsonic aircraft. But the belief that the laws of physics force SSTs to be ridiculous gas guzzlers and no amount of technological refinement can overcome it is misguided at best.
[1] This is actually an oversimplification. Drag does not scale perfectly with qV^2 through the transonic and low supersonic regimes. Wave drag dramatically increases drag close to Mach 1 (which as an aside is the source of the term sound barrier). Wave drag becomes less significant past Mach 1.4 though and by the time you get to supercruise qV^2 is once again a good approximation.
Then the Air France crash happened in 2000. That hurt. Then They were brought back into service a bit over a year later, on September 11th, 2001. Talk about bad timing.
Even after BA retired them Richard Branson wanted to buy (and operate) the entire fleet.