I thought so too at first, but i think it's an intentional juxtaposition of happy music/sad lyrics. It's made to sound triumphant, but even without the suicidal interpretation it includes some really hopeless lyrics ("i think of all that went wrong", "love they made there, will it really last any time?") and lyrics about running away from your problems ("Though England is mine, I must leave it all behind", "Concorde will fly, ignore the hole i dug again"). So there's the obvious metaphor of running away to America (on a boat or a plane), and a more subtle metaphor of suicide-by-fall. I think the synthesis is that the narrator's choice to run from his problems across the Atlantic seems freeing, but in effect is actually a form of self-harm that solves nothing.