Sir Richard Branson-backed space tourism business Virgin Galactic has trimmed its losses when compared to a year ago. Most activity at the company is suspended while the passenger-carrying spaceship is being redesigned and manufactured. Revenues for the full year were $7 million, the same as 2023, and related to income from would-be passengers wanting to […]

Sir Richard Branson’s space tourism business, Virgin Galactic, suffered a bank’s serious downgrade to its share price. Morgan Stanley had given Virgin Galactic a share price target of $35. That price has been slashed to just $5 in the bank’s latest report issued on September 24th. The bank was blunt and cited ongoing challenges for […]

Space tourism business Virgin Galactic announced a reverse stock split where existing shareholders received one new share for every 20 that they owned. The move, an attempt to stay within the rules of the New York Stock Exchange (NYSE), did no favours for the company and prompted at 14 per cent fall in value in […]

Virgin Galactic, already involved in a legal spat with Boeing over an alleged misappropriation and withholding of certain proprietary IP and trade secrets, has scheduled its June 12th Annual meeting to include a proposal to create a reverse stock split for the company. The intention is for Virgin Galactic to adjust the company’s shares in […]

On March 21st aerospace giant Boeing entered a writ against Virgin Galactic in the US District Court of Virginia. The action alleged that Virgin owed Boeing $26 million (€24m) and that it had misappropriated certain IP and trade secrets associated with the development for a new space tourism aircraft for Virgin. Boeing, and an associated […]

Aerospace giant Boeing is suing Sir Richard Branson’s space tourism venture Virgin Galactic, alleging unpaid invoices and the misappropriation of Boeing-owned trade secrets and IP. Boeing is suing via its subsidiary Aurora Flight Sciences, and its writ states that Virgin has not paid $26.4 million in invoices for work related to the development of a […]

Virgin Galactic’s sub-orbital ‘Galactic 06’ tourist rocket flight on January 26th was a success for its four passengers and two accompanying crew. But Virgin has notified the Federal Aviation Administration (FAA) that an ‘alignment pin’ became detached during the flight. The problem was discovered during a post-flight examination. The troublesome alignment pin helps ensure that […]

Virgin Galactic has confirmed that subject to the usual last-minute weather considerations, its ‘Galactic 06’ flight window will open on January 26th. This will be the Company’s eleventh spaceflight to date and will follow a year of unprecedented human spaceflight achievements that included six suborbital spaceflights in six months. Four private astronauts from three different […]

Sir Richard Branson’s Virgin Galactic near-space tourism venture has set January 26th for its next commercial passenger flight (Galactic 06). It will be the 11th flight overall. Virgin’s VSS Unity craft will carry four paying clients, following what the company describes as a year of unprecedented human spaceflight achievements, including six suborbital spaceflights in six […]

Sir Richard Branson says he is not putting any more cash into the Virgin Galactic rocket space tourism venture. He told the FT that his business empire “does not have the deepest pockets” any more and that he had learned an expensive lesson with its Virgin Orbit business which went bust earlier in 2023. Virgin […]