The most famous passenger jet in history, Concorde, is to be taken out of service.
BA (British Airways) and Air France says the 1,320mph supersonic aircraft is being axed for "commercial reasons, with passenger revenue falling steadily against a backdrop of rising maintenance costs for the aircraft".
The announcement brings to an end a supersonic era which began when the 100-seater Concorde made its first flight in 1969, followed by the start of passenger services in 1976.
BA says detailed discussions, over an extended period, with Airbus, the aircraft's manufacturer, had confirmed the need for an enhanced maintenance programme in the coming years.
The airline went on: "BA has decided that such an investment cannot be justified in the face of falling revenue caused by a global downturn in demand for all forms of premium travel in the airline industry."
It adds the downturn has had a negative impact on Concorde bookings and is set to continue for the foreseeable future.
BA's chief executive Mr Rod Eddington said: "Concorde has served us well and we are extremely proud to have flown this marvellous and unique aircraft for the past 27 years."
Retiring Concorde will result in £84 million write-off costs for the year ended March 2003.
BA says it is already planning to make its Concordes available for the public to view in museums.
For the next few months, BA will continue to operate its Concorde services between London Heathrow and New York's JF Kennedy airport as well as seasonal services to Barbados.
PA