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Virgin Galactic

Virgin Galactic signs 800 future astronauts

Space tourism business Virgin Galactic says around 800 would-be “astronauts” have made reservations for one of its sub-orbital flights. That might be the best news for the Sir Richard Branson-backed company which declared a delay to its passenger flights (to Q1/2023) and a net loss of $93 million for Q1 this year ($130 million loss […]

May 9, 2022

Inside trading suit filed against Virgin Galactic

Sir Richard Branson and Chamath Palihapitiya, the former chairman of Branson’s Virgin Galactic rocket tourism company, who unexpectedly stepped down in February, have been accused of issuing misleading information to shareholders over the company’s share float and how it was financed. The investor lawsuit, filed February 21st by Virgin Galactic shareholder Thomas Spiteri, seeks damages […]

March 7, 2022By Chris Forrester

Virgin Galactic boss steps down

Chamath Palihapitiya, chairman and a member of Virgin Galactic’s board, Is stepping down. He says he wants “to focus on other public company board commitments.” His departure is immediate, says a company statement. As part of the announcement, the Board appointed director Evan Lovell as Interim Chairman until a new chair is in place. Lovell […]

February 21, 2022By Chris Forrester

Virgin Galactic to offer $425m of new debt

Sir Richard Branson’s Virgin Galactic Holdings is looking to sell $425 million (and up to $500 million if the response is good) of convertible bonds in a private offering. Virgin Galactic will use the cash to fund working capital and general administrative purposes. The company has next-to-zero income (last year it declared just $3.2 million […]

February 1, 2022By Chris Forrester

Virgin Galactic signs up another 100

Richard Branson’s Virgin Galactic space tourism business says it has added “about” 100 new clients, at $450,000 each, to fly to the edge of space. The added voyagers have been signed up despite certain delays to any passenger-carrying flights not likely until, at best, Q4/2022 when an Italian crew could fly. Virgin Galactic’s CEO Michael […]

November 11, 2021By Chris Forrester

Virgin Galactic can resume flights

The Federal Aviation Authority (FAA) has approved Sir Richard Branson’s Virgin Galactic resumption of its flying status. The hold up was due to a review of Virgin Galactic’s most recent SpaceShipTwo flight which deviated from its agreed flight plan on July 11th. There were 6 people on board including Branson and the flight reached an […]

October 1, 2021By Chris Forrester

FAA grounds Virgin Galactic

The Federal Aviation Authority (FAA) has firmly told Virgin Galactic that its SpaceShipTwo Boeing ‘Cosmic Girl’ and sub-orbital rocket flights are grounded. The FAA is investigating why the SpaceShipTwo rocket departed from its planned – and authorised – flight path. “Virgin Galactic may not return the SpaceShipTwo vehicle to flight until the FAA approves the […]

September 10, 2021By Chris Forrester

Branson and Bezos prepare for lift-off

To describe Sir Richard Branson as a successful entrepreneur is perhaps an understatement, but the world knows that billionaire Amazon founder Jeff Bezos tops that category. However, when it comes to sub-orbital space flight, the pair are almost neck and neck in their ambitions. On July 11th, while insisting there’s absolutely no rivalry with Bezos, […]

July 8, 2021

Virgin Galactic passenger flights imminent?

Last week the US Federal Aviation Administration (FAA) issued a licence extension to Sir Richard Branson-backed Virgin Galactic. It means that the aircraft and rocket combination can now fly commercial passengers into near-space. This is the first FAA permission needed for Virgin Galactic to carry passengers. Branson has repeatedly promised to be aboard the first […]

June 29, 2021By Chris Forrester

Virgin Galactic wraps human test-flight; concerns remain

Sir Richard Branson’s Virgin Galactic ‘spaceship’ VSS Unity achieved a speed of Mach 3 after being released from the mothership, VMS Eve, and reached space at an altitude of 55.45 miles (89 kms) before gliding smoothly to a runway landing at Spaceport America in New Mexico back on May 22nd. The Unity craft carried a […]

June 8, 2021