Join our Waitlist for Expert Advice!

NY to Tokyo in an Hour? Richard Branson Says It Can Be Done. The Virgin Group Founder says he's hoping to bring back supersonic commercial air travel.

By Matthew J. Belvedere

This story originally appeared on CNBC

"If we get it right, New York to Tokyo could be less than an hour," the Virgin Group founder told CNBC's "Squawk Box" on Tuesday. "You could be traveling at 19,000 miles per hour orbitally."

Branson said he's hoping to bring back supersonic commercial air travel after getting his Virgin Galactic space venture off the ground. "After we've done the space program, we will be producing supersonic planes, which will go far, far, faster than [the] Concorde."

It's been more than a decade since the last commercial flight of the Concorde, which was able to make it from London to New York in three hours. It was retired by British Airways after 27 years in service.

Branson, 63, told CNBC he'd like to bring his brand of futuristic flights to fruition in his lifetime.

Best time ever for airline stocks, Branson says

Meanwhile, he said, it's a great time to invest in the airline industry, but for travelers "the jury is out" on whether that's good news for airfares.

The consolidation among the biggest U.S. airlines in recent years has created stability and profitability in an industry that's struggled for decades.

"Sense has finally prevailed in America. Since we started competing with American carriers 30 years ago, every single one of those carriers have gone bankrupt at least once," said Branson from Dallas—where he's lobbying the city for two newly available gates at Love Field airport for Virgin America.

But when there's less competition, fares go up, Branson added. "And airlines don't feel like they need to spend so much money on quality."

#insert RSS here#

The Dallas gates are up for grabs because the Justice Department made newly expanded American Airlines relinquish them in order to settle antitrust concerns about its merger last year with U.S. Airways.

The department wants Virgin America to get the gates, but Dallas City Manager A.C. Gonzalez favors Southwest, which already dominates at the airport.

The Dallas city council is expected to make a decision Wednesday.

"It should be a slam dunk," said Branson. He said service out of Dallas on his airline would include flights to New York, Los Angeles, Washington, and Chicago.

Given the state of the industry, "it's unlikely you're going to get a new airline in America in the next decade," he predicted. "It's going to be incredibly tough for another 'Virgin America' to emerge in this marketplace."

Matt Belvedere is a veteran journalist at the intersection of where live television news programs and the Internet meet -- developing and managing an online and social media presence for CNBC's flagship morning show, "Squawk Box."

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This 79-Year-Old Retiree's Side Hustle Earns $4,000 a Month: 'I Work as Much or as Little as I Desire'

Dan Weiss saw an article about a side hustle in the local newspaper — then decided to try it himself.

Starting a Business

She Started a Business With $300 After Getting Laid Off. It Made $300,000 in Year 1 and Became a Multimillion-Dollar Company.

Bobbie Racette wanted to revamp the virtual assistance space — and provide job opportunities for underrepresented communities at the same time.

Science & Technology

These Are the 9 Dead Giveaways That AI Wrote This Story

How to spot a bot behind the content you read—everytime.

Money & Finance

These 3 Money Mistakes Derailed My Financial Stability as a Latina Entrepreneur — Here's How You Can Avoid Them

These are common hurdles for Hispanic entrepreneurs, but with the right strategies, you can overcome them and achieve lasting financial stability while staying true to who you are. Here's how to avoid the three biggest mistakes that could be holding you back.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.