It does, which is why fighter jets for instance have very flat airfoils which are not very efficient for generating lift in subsonic flight. The cross-section of the wings of the famous SR-72 Blackbird reveals a simple ellipse. They require a tremendous amount of thrust to generate enough lift when flying at supersonic speeds, hence why their jet engines have afterburners. When flying at supersonic speeds, airfoil shape is of lesser importance to generating lift.

Aircraft designers are very keen to prevent (local) shockwaves forming on their wings. If you look at a passenger jet, you will notice it has swept wings. These swept wings delay the formation of shockwaves on the wing when flying at transonic speeds, thus increasing efficiency whilst still enabling the aircraft to fly at these speeds.