Aerion Corporation’s board of directors has authorized the sale of the AS2 aircraft at a price of $120m in 2015 dollars. The initial 50 launch customers will receive preferential pricing and other benefits available only for this first tranche of orders.

“This is another step forward for Aerion,” noted Aerion Chairman Robert M. Bass. “We are offering a select group of forward thinking business aviation users the opportunity to fly faster and to make history with us as we reintroduce commercial supersonic flight.”

Aerion also announced that Ernest (Ernie) Edwards, formerly president of Embraer Executive Jets, had joined the company as senior vice president and chief commercial officer.

“We will be having some very interesting discussions with travellers who place a high value on their time,” he said. “They can save three hours between Paris and Washington, D.C., and six and a half hours between San Francisco and Singapore. That speed advantage will be quite meaningful to them.”

The company continues to expand its engineering organization and deepen ties with Airbus Group as the two entities participate in a joint definition phase, refining the AS2 design. Aerion moved into new and expanded offices in Reno, Nevada in March to accommodate a growing staff and provide space for Aerion and Airbus engineers to work together.

New low-speed wind tunnel tests are planned for the AS2. They will take place at the University of Washington wind tunnel complex in September.

“We’ve made substantial progress in defining the AS2 from the inside and the outside, said CEO Doug Nichols. “It clearly is the shape of things to come and the next great advance in civil aviation.”