Recent progress in the development of implicit algorithms for the Euler equations using the flux-vector splitting method is described. Comparisons of the relative efficiency of relaxation and spatially-split approximately factored methods on a vector processor for two-dimensional flows are made. For transonic flows, the higher convergence rate per iteration of the Gauss-Seidel relaxation algorithms, which are only partially vectorizable, is amply compensated for by the faster computational rate per iteration of the approximately factored algorithm. For supersonic flows, the fully-upwind line-relaxation method is more efficient since the numerical domain of dependence is more closely matched to the physical domain of dependence. A hybrid three-dimensional algorithm using relaxation in one coordinate direction and approximate factorization in the cross-flow plane is developed and applied to a forebody shape at supersonic speeds and a swept, tapered wing at transonic speeds.