Virgin Galactic

As of October 2019, Virgin Galactic is a company that is part of the Virgin Group and plans to organize tourist suborbital space flights and launches of small artificial satellites. In the future, the company plans to offer orbital flights to its customers.

History

2022: Richard Branson sued for withholding data on Virgin Galactic programme issues

In November 2022, it became known that Richard Branson would face trial for hiding problems in the implementation of Virgin Galactic's spacecraft production program and selling hundreds of millions of dollars worth of shares at inflated prices.

2021

Richard Branson sold about 4% of the company, retaining an 18% stake

In August 2021, Richard Branson sold shares of Virgin Galactic Holdings Inc. worth about $300 million, again using his largest listed asset to maintain his business empire during the pandemic.

The billionaire sold almost 10.5 million shares - about 4% of the space travel company - through a company under his control, leaving him with 18% of the shares.

The proceeds will go towards supporting Branson's travel and leisure business as well as developing new and existing businesses, a Virgin Group spokesman said.

U.S. regulatory approval to fly customers into space

In June 2021, Virgin Galactic Holdings Inc. received permission from US regulators to fly customers into space.

The Federal Aviation Administration has upgraded the company's existing license, Virgin Galactic said, noting that the permit is the first of its kind.

It marks another milestone for an industry that was not long ago the subject of science fiction. Virgin Galactic, founded by entrepreneur Richard Branson, has been working to achieve its goal since 2004.

Virgin Galactic jumped 12% in U.S. preliminary trading. As of Thursday, the company's market value was $9.7 billion.

2009: Applications for flight from 450 people accepted

For 2009, applications from more than 450 people were accepted. The flight itself is a rise to a 16-kilometer mark, then the spaceship undocks from the accelerator aircraft, he makes his own further path. Flight time - 2.5 hours, of which 5-6 minutes in zero gravity. Up to eight people can be on board the spacecraft at the same time: two pilots and six passengers. The cost of one ticket for 2009 was $250,000.

Spaceships

• Virgin Galactic VSS Unity