Resplendent in a blue Virgin Galactic flight suit, Richard Branson was in an exuberant mood as he sat at the New York Stock Exchange doing a TV interview on Oct. 28, 2019. His space tourism company had just gone public in a $774 million merger with billionaire Chamath Palihapitiya’s Social Capital Hedosophia special purpose acquisition company.
Virgin Galactic now had an estimated market value of more than $2.2 billion despite never having flown a single passenger or earned any serious revenue in 15 years. Virgin Galactic would have $450 million to complete its flight test program and begin commercial flights — if the company’s Securities and Exchange Commission filings were to be believed — in June 2020. Branson and the Mubadala Investment Company, an Abu Dhabi government sovereign wealth fund, would divide up $274 million to offset about $1 billion in investment made thus far.
Two Chinese companies — CAS Space and Space Transportation — are pursuing the suborbital tourism market, with the former closely copying Blue Origin’s fully reusable New Shepard vehicle and the latter developing a winged vehicle that could be adapted for hypersonic point-to-point travel between distant locations on Earth.
CAS Space, a.k.a., Guangzhou Zhongke Aerospace Exploration Technology Co., Ltd., is developing a single-stage reusable rocket that lands under its own power topped with a capsule that descends under three parachutes.
Of the six launches known to be scheduled to close out August, there’s only one – Artemis I — that truly matters in any real sense. The others will be duly recorded but little remembered in what could be the busiest launch year in human history.
TUSTIN, Calif. (Virgin Galactic PR) — Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or “Virgin Galactic”), an aerospace and space travel company, today announced that former Rolls-Royce executive Matthew Boguradzki has been appointed Vice President, Sales and Strategy, effective today.
Boguradzki will lead Virgin Galactic’s sales team, supporting the Company’s commercial growth and developing its thriving customer community. He will oversee all sales efforts including strategy, sourcing, negotiation, and client management, and will report to Blair Rich, President and Chief Business Officer, Commercial and Consumer Operations.
Virtuoso adds spaceflight partner to its exclusive global portfolio
Limited number of remaining seats available to Virtuoso’s global client base
NEW YORK & TUSTIN, Calif. (Virtuoso/Virgin Galactic PR) — Virtuoso®, the leading global network specializing in luxury and experiential travel, and Virgin Galactic (NYSE: SPCE), an aerospace and space travel company, today announced a strategic partnership to make a limited number of seats for Virgin Galactic’s spaceflight experience available to Virtuoso’s global client base.
MESA, Ariz., July 14, 2022 (Virgin Galactic PR) – Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or “Virgin Galactic”), an aerospace and space travel company, today announced it has signed a long-term lease for a new final assembly manufacturing facility for its next-generation Delta class spaceships. Located in Mesa, Greater Phoenix area, adjacent to the Phoenix-Mesa Gateway Airport, the facility will be capable of producing up to six spaceships per year and will bring hundreds of highly skilled aerospace engineering and manufacturing jobs to the area.
The first half of 2022 was a busy period in suborbital space with 23 launches conducted that did not involve tests of ballistic missiles or defensive systems. Twelve people flew above the Karman line, new boosters and space technologies were tested, and the first commercial suborbital launch was conducted from Australia. And some science was done.
We covered the above mentioned flights in depth in a story published on Tuesday. In this piece we’ll look a broader look at who launched what, when, where, why and on what.
Virgin Galactic has seen the departures of its director of safety and chief legal officer over the past month.
Chief Legal Officer and General Counsel Michelle Kley is leaving Virgin Galactic as of July 19 after two years and seven months with the company. She will become chief legal officer at Volta, a company that runs an electric vehicle charging network.
Her departure comes as Virgin Galactic battles lawsuits from unhappy shareholders who claim to have lost money since the company went public more than 2.5 years ago.
Kley joined Virgin Galactic as executive vice president, chief legal officer, general counsel and secretary in December 2019. She previously served as senior vice president, chief legal officer, general counsel and secretary at Maxar Technologies from July 2016 to March 2019.
For decades, the suborbital launch sector was largely a backwater. Militaries tested ballistic missiles, scientists conducted experiments, and engineers tested new technologies. A sounding rocket is small potatoes compared with orbital rocket launches and the glamor of human spaceflight. Few people paid much attention.
All that has changed in recent years as Virgin Galactic and Blue Origin and their billionaire owners — Richard Branson and Jeff Bezos — started launching themselves and others on suborbital joyrides. Startups have been conducting suborbital flight tests of new orbital launch vehicles designed to serve the booming smalls satellite market. Suborbital has become a much more interesting sector.
This year has been no exception. The first half of 2022 saw Blue Origin send 12 people into space on two New Shepard flights, a Chinese company conduct six launches in a program to develop aa suborbital spaceplane and hypersonic transport, South Korea and Iran perform flight tests of three different smallsat launchers, Germany test technologies for reusable rockets, and first-ever commercial launch from Australia. And, a great deal of science was done.
The new team builds on World View’s existing safety protocols as the company readies for human flights in 2024
TUSCON, Ariz. (World View PR) – World View, the leading stratospheric exploration and space tourism company, hired three new industry experts to establish and lead a new safety program that includes the company’s testing and safety protocols ahead of human space flights starting in 2024. The new personnel will build on World View’s existing safety protocols and risk assessment procedures that have successfully guided more than 100 uncrewed flights and remote sensing missions for commercial and government customers. In turn, the committee’s work will provide the additional measures needed for World View to begin space tourism missions in two years.
Agreement with Aurora Flight Sciences to Deliver Two Vehicles, Each Designed to Fly Up To 200 Launches Per Year
First New Mothership Expected to Enter Service in 2025
Outsourced Manufacturing Approach Will Improve Speed to Market, Provide Access to Labor Pools, Minimize Supply Chain Disruption, and Realize Efficiencies
TUSTIN, Calif. (Virgin Galactic PR) — Virgin Galactic (NYSE: SPCE) (the “Company” or “Virgin Galactic”), an aerospace and space travel company, today announced an agreement with Aurora Flight Sciences (“Aurora”), a Boeing company, to partner in the design and manufacturing of the Company’s next generation motherships. The mothership is the air launch carrier aircraft in Virgin Galactic’s space flight system, that carries the spaceship to its release altitude of approximately 50,000 feet.
Firefly Aerospace co-founder Tom Markusic is out as CEO, a move that comes three months after AE Industrial Partners (AEI) led a $75 million Series B funding round and completed its acquisition of a majority stake in the rocket company.
Firefly announced this week that Markusic transitioned to the role of full-time board member and chief technical advisor on Thursday, June 16. He remains “a significant minority investor” in the company, which is preparing for the second flight test of its Alpha small-satellite booster.
Virgin Galactic’s quarterly reports have fallen into a familiar pattern since the company went public 2.5 years ago. Optimistic talk about past and future progress is mixed in with a large net loss and another delay in the start of commercial service that was originally forecast to begin back in 2007.
Richard Branson’s space tourism company didn’t fail to disappoint on Thursday. The net loss for Q1 2022 was $93 million, which was higher than Q4 2021 net loss of $81 million but less than the $130 million loss for the first quarter of 2021.
LONDON (Seraphim Space PR) — Seraphim Space Manager LLP, the manager of Seraphim Space Investment Trust plc, the world’s first listed Space Tech Fund, is delighted to announce that Patrick McCall, former Senior Partner of Virgin Group, will join the company.
Patrick joins Seraphim as a Venture Partner following a long and distinguished career in the space, communication and transport sector, He worked for two decades in the senior team driving the expansion of the Virgin Group and as the Chair of Virgin Orbit and Virgin Galactic. His achievements include financing the development of Virgin Galactic and Virgin Orbit, culminating in the flotations of both companies. He also played a key role in agreeing the launch agreement for Virgin Orbit from the Spaceport in Cornwall later this year.
Billionaire aims to go higher and faster next time
Virgin Galactic still can’t get SpaceShipTwo all the way up (to Karman line)
FAA throws in the towel on deciding who is and who isn’t an astronaut
by Douglas Messier Managing Editor
Earlier this month, Richard Branson and two Virgin Galactic employees received commercial astronaut wings from the Federal Aviation Administration (FAA) for the SpaceShipTwo VSS Unity flight test they took part in last July. The trio was the last group to receive the wings — FAA ended the program last year — and the honors came with a pretty big asterisk.