Virgin Galactic founder Richard Branson. (credit: Eric Berger) Sir Richard Branson has ruled out putting more money into his lossmaking space travel company Virgin Galactic, saying his business empire “does not have the deepest pockets” any more. Virgin Galactic, which was founded by Branson in 2004, last month announced it was cutting jobs and suspending commercial flights for 18 months from next year, in a bid to preserve cash for the development of a larger plane that could carry passengers to the edge of space. The group has said it has enough funding to carry it through to 2026, when the bigger Delta vehicle is expected to enter service.

Topics:  eric berger    sir richard   delta   comments   virgin galactic   richard   branson   galactic   carry   space   money   
BING NEWS:
  • Virgin Galactic Holdings Inc. stock underperforms Thursday when compared to competitors despite daily gains
    Shares of Virgin Galactic Holdings Inc. SPCE advanced 4.02% to $6.72 Thursday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average DJIA ...
    07/25/2024 - 10:36 am | View Link
  • Arizona, Texas GCs complete spaceship plant for Virgin Galactic
    Sun State Builders and Parkway Construction recently delivered the Phoenix-area manufacturing facility for the spaceflight company.
    07/24/2024 - 4:14 am | View Link
  • Virgin Galactic (SPCE) stock has crashed amid bankruptcy risks
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    07/23/2024 - 12:54 am | View Link
  • Virgin Galactic Stock Price Prediction: Where Will It Be in 1 Year
    By one measure, Wall Street expectations for where Virgin Galactic stock is headed are wildly optimistic. By others, they are pessimistic.
    07/18/2024 - 2:45 am | View Link
  • Virgin Galactic Completes Arizona Spaceship Manufacturing Hub
    Virgin Galactic opens a new assembly facility in Phoenix ... The mothership - also known as VMS Eve (Virgin Mother Ship), is named after founder Richard Branson's mother - Evette Branson. The facility ...
    07/10/2024 - 9:17 am | View Link
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