The financial history of the Concorde is a subject of much debate, but the short answer is that while the project as a whole was a massive loss for the British and French governments, British Airways (BA) eventually turned it into a profitable operation. The development costs, totaling over £1 billion in the 1960s and 70s, were entirely subsidized by the governments and were never recouped. However, after BA bought its fleet for a symbolic price and realized that their wealthy passengers actually didn't know how much they were paying for tickets, they drastically increased the fares. By the 1980s and 90s, the Concorde was generating an average of £30 million to £50 million in annual profit for British Airways. Air France struggled more to make a profit due to different market demographics and higher maintenance overhead. Ultimately, the high cost of fuel, the 2000 crash in Paris, and the general downturn in aviation after 9/11 made the aging fleet unsustainable. While it was a "prestige" project that failed as a mass-market business, it proved that a niche, ultra-premium service could be profitable under the right management.