London ? The supersonic jet set has been bumped. The Concorde, the needle-nosed aircraft for the rich, is retiring after a quarter-century of ostentatiously expensive service.

Thursday’s decision by British Airways and Air France means the end of an era in aviation. The Concorde is the world’s only supersonic passenger jet. Only 20 were built, with 12 remaining in service, all operated by the two companies.

British Airways and Air France will end their Concorde supersonic service later this year because of falling passenger demand, the airlines announced Thursday. A British Airways Concorde is shown Thursday at the engineering section at London's Heathrow Airport.

When it made its debut in 1976, the Concorde aspired to be the future of the aviation industry. But it was never a commercial success. In recent years it has struggled even more due to the global economic downturn, the impact of the Sept. 11 attacks on air travel and a horrific crash in July 2000 that severely tarnished the plane’s safety record.

Beverly Shenstone, technical director of British Overseas Airways Corp., predecessor of British Airways, once called Concorde “the largest, most expensive and most dubious project ever undertaken in the development of civil aircraft.”

No country would permit it to fly over land at supersonic speeds because of loud engines, curbing its versatility. And because the fuel-guzzling Concorde carries just 100 passengers, it’s less economical than a jumbo jet.

Nonetheless, the Concorde conferred unmatched prestige on British Airways and Air France, and the glamour of a glitzy passenger list that included Elizabeth Taylor, Madonna and Queen Elizabeth II.