> The only reason it kept flying for 33 years is a vanity project for national airlines.
Something that loses money, but not so much money that it can't be justified as a vanity project, seems like the sort of thing that could be profitable with tweaks and improvements.
Like it didn't work, but it was close enough to working that reasonable investors could say: second time will be the charm. Especially given how much more mature aeroplane technology is now vs the 1950s.
To put it in perspective, we first broke the sound barrier in 1947. People started designing the concorde in 1954 only 7 years later. It is now three quarters of a century later. Technology has improved a lot since then.
Concorde made an operating profit. Not a huge one (how could it, with fourteen planes flying), and it didn’t recoup development costs, but it was in the green once that initial cost was paid.
It was able to coast, eventually, but that’s some very fancy accounting.
“French Transport Minister Daniel Hoeffel, saying France ''will not and cannot abandon Concorde,'' signed a new agreement with Air France this week. The French Government, which with Britain had spent more than $2 billion developing the world's first supersonic passenger aircraft, will pay 90 percent of the plane's estimated operating losses for the next three years, compared with 70 percent in the past.
Under the new pact, the French taxpayer will contribute $66 million this year to the cost of Air France's champagne-and-caviar service linking Paris with New York, Washington, Caracas and Rio de Janeiro. In 1982, when losses are expected to decline slightly, the subsidy will be about $64 million, and in 1983, $59 million.”
In my opinion, there are worse ways for governments to subsidize aerospace and materials research and development, improve the connectivity between nations, generate national prestige, give people optimism for the future, and so on. 2 billion doesn't sound like a lot. It's a drop in the bucket compared to US military expenditures.
If California High Speed Rail loses a little bit of money, I won't be too upset by it. Unfortunately the up front costs are much higher, but at the same time, massive, massive infrastructure development is happening in California all along the length of the state, and the government is acquiring the rights to develop public transportation both now and into the future on that land. Again, there are worse ways to spend the money in my opinion.
The only reason it kept flying for 33 years is a vanity project for national airlines.
Which it was excellent at. Actually viable business? Not so much.