Virgin Galactic Says Bookings on SpaceShipTwo Have Recovered

George Whitesides
George Whitesides

Virgin Galactic CEO George Whitesides was in Abu Dhabi this week for a space conference, where he gave an update on the company’s progress since the October 2014 that destroyed the first SpaceShipTwo and killed pilot Mike Alsbury.

About 25 of 700 fee-paying clients withdrew from the program after the crash in the Mojave Desert in California caused it to be put on hold just months before the first commercial flight, Virgin Galactic Chief Executive Officer George Whitesides said Tuesday in Abu Dhabi.

“We had a little dip right after the accident, but honestly we’re almost all the way back now,” Whitesides said at a conference organized by the International Civil Aviation Organization and United Nations Office for Outer Space Affairs. “It’s looking very good. There’s a global desire to experience space.”

Virgin Galactic said it had “more than 700 Future Astronauts” signed up as of April 2014. In media appearances in the months before the accident, Branson put the number of tickets sold at or close to 800.

Whitesides also said that Virgin Galactic’s partner, Aabar Investments, might increase its stake in the company.

When asked whether Aabar is planning to increase or decrease their stake in the company, he said they had meetings with their representatives and said the responses had been positive.

In 2009, Aabar paid $280 million for a 31.8 percent stake in Virgin Galactic. The government-owned sovereign wealth fund upped its stake to 37.8 percent with an additional investment of $110 million in 2011.