Tag: space tourists

How Richard Branson Has Been Funding Virgin Galactic

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Sir Richard Branson speaks to a group of future astronauts at the FAITH Hangar of Virgin Galactic in Mojave, CA September 25, 2013 in Mojave, CA. (Credit: Virgin Galactic)

Sir Richard Branson speaks to a group of future astronauts at the FAITH Hangar of Virgin Galactic in Mojave, CA September 25, 2013 in Mojave, CA. (Credit: Virgin Galactic)

For anyone wondering how the Virgin Group has been funding Virgin Galactic over the past decade, the Financial Times had an excellent overview back in early November just after SpaceShipTwo crashed.

It seems that Virgin Galactic had sucked in up to $600 million in investment by that point, with nearly two-thirds of it from Abu Dhabi. The Virgin Group also has been funding the rest using profits from other parts of Sir Richard Branson’s empire.

For Galactic’s business model, Virgin followed a well-worn route. The group’s favoured start-up model relies on private investment for financing, with generally a co-investor sharing equity, and therefore the financial risk, often with a large amount of debt to the parent company loaded on to the balance sheet, a model it has followed at most of its businesses since the group’s brief but painful experience as a London-listed company in the 1980s.
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Virgin Galactic Hires New Pilot

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Sir Richard Branson "high tens" with SpaceShip2 test pilot Mark Stuckey following the successful first powered flight of SpaceShipTwo. At left is Mark Stuckey's wife Cheryl and at right is Virgin Galactic President and CEO George Whitesides..  The spacecraft was dropped rom its "mothership", WhiteKnight2 over the Mojave, CA area, April 29, 2013 at high altitude before firing its hybrid power motor. (Credit: Virgin Galactic)

Sir Richard Branson “high tens” with SpaceShip2 test pilot Mark Stuckey following the successful first powered flight of SpaceShipTwo. At left is Mark Stuckey’s wife Cheryl and at right is Virgin Galactic President and CEO George Whitesides.. The spacecraft was dropped rom its “mothership”, WhiteKnight2 over the Mojave, CA area, April 29, 2013 at high altitude before firing its hybrid power motor. (Credit: Virgin Galactic)

MOJAVE, Calif. – January 23, 2015 – Virgin Galactic, the privately-funded space company owned by Sir Richard Branson’s Virgin Group and Abu Dhabi’s Aabar Investments PJS, is pleased to announce the appointment of Mark ‘Forger’ Stucky as pilot.

Stucky will join Virgin Galactic’s commercial flight team responsible for flying WhiteKnightTwo and SpaceShipTwo: Chief Pilot Dave Mackay and pilots Frederick ‘CJ’ Sturckow, Michael ‘Sooch’ Masucci, and Todd ‘Leif’ Ericson, who is also Virgin Galactic’s Safety and Testing Vice President. His first day with Virgin Galactic is February 2.

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Seattle, Mojave Duel to be Silicon Valley of Space

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Elon Musk (Credit: SpaceX)

Elon Musk (Credit: SpaceX)

With last week’s visit of Elon Musk and his announcement of a new facility to design and build a 4,000-satellite constellation, Seattle Weekly is reviving the region’s claim to be the “Silicon Valley of space.”

That might be a bit of a surprise to Silicon Valley, the home of some cool space start-ups and the source (via Google) of a lot of Musk’s satellite money.

The moniker is also probably surprising to some folks in Mojave, which also has staked its claim to that title from time to time. Valley Public Radio talks to Mojave Air and Space Port CEO/General Manager Stu Witt and Leonard David of Space.com about Mojave, commercial space and the loss of SpaceShipTwo.

Is Kern County The Next Frontier For Aerospace Innovation?

It’s a bit of a disappointing discussion. Both Leonard and Stu appear more afraid of the government coming in with regulations than they are of Scaled continuing to kill people on this program. Ten years, four deaths and one wrecked spaceship later, and this program hasn’t come anywhere near space.

That’s not exactly a shining example of NewSpace competency. And shouldn’t that raise some basic questions about Scaled, its design and safety protocols, and Virgin Galactic’s rush to move forward?

And, as the FAA’s George Nield has pointed out, these guys aren’t exactly the Wright brothers. They’re not inventing a new mode of transportation from whole cloth. People have been flying into space for more than 50 years. There’s a lot of good, proven safety practices out there. Without some mandatory regulations, Nield fears that some irresponsible operator will ruin it for everyone in the industry.

That’s the argument, anyway. Whether you agree with it or not, it would have been nice if it had come up in the discussion. I guarantee you it will be a point of contention at the FAA Commercial Space Transportation Conference next month.

Year in Review: A Look at Virgin Galactic Developments in 2014

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WhiteKnightTwo visited Spaceport America for the first time in three years on Wednesday. Below, you can see a full-scale model of SpaceShipTwo on the ramp. (Credit: Virgin Galactic)

WhiteKnightTwo visited Spaceport America for the first time in three years on Wednesday. Below, you can see a full-scale model of SpaceShipTwo on the ramp. (Credit: Virgin Galactic)

Continuing our look back at 2014, we review progress at Virgin Galactic. While the loss of SpaceShipTwo on Oct. 31 understandably dominated the headlines, there were a number of other newsworthy developments at the company last year.

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Brightman & Takamatsu Complete First Day of Cosmonaut Training

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Satoshi_Takamatsu and Sarah Brightman (far right) meet the media. (Credit: Roscosmos)

Satoshi_Takamatsu and Sarah Brightman (far right) meet the media. (Credit: Roscosmos)

MOSCOW (Roscosmos PR) – Today in the Gagarin Cosmonaut Training Centre (GCTC) the famous British actress, songwriter and dancer Sarah Brightman and Japanese advertising guru Satoshi Takamatsu began their spaceflight training.

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New Mexico Spaceport Authority Seeks $6.2 Million for Ops, New Hangar

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The Virgin Galactic Gateway to Space building with a security fence around it. (Credit: Alex Heard)

The Virgin Galactic Gateway to Space building with a security fence around it. (Credit: Alex Heard)

New Mexico Spaceport Authority officials will seek an additional $1.7 million to fund operations and $4.5 million to build a new hangar to attract additional tenants to Spaceport America, the Las-Cruces Sun-News reports.

The funding would be a special appropriation, on top of the general appropriation they had already prepared, and would only be used if needed, Spaceport Authority Executive Director Christine Anderson said.

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New Virgin Galactic Video About Second SpaceShipTwo

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Video Caption: An introduction to our second Spaceship, featuring interviews with key team members and behind the scenes shots of our Spaceship factory.

Luminox Extends Partnership to XCOR

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Full-scale Lynx mockup (Credit: XCOR)

Full-scale Lynx mockup (Credit: XCOR)

ZURICH, Switzerland, January 14, 2015 (Luminox PR) — Luminox is proud to announce that its partnership with SXC (currently known as XCOR Space Expeditions) has been extended to XCOR Aerospace®, and Luminox is now the official watch partner of XCOR Aerospace.

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2014: The Year We Discovered Space is Hard (Part III)

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The spot where SpaceShipTwo's cockpit crashed. (Credit: Douglas Messier)

The spot where SpaceShipTwo’s cockpit crashed. (Credit: Douglas Messier)

The Coming Reckoning for NewSpace

After the Challenger accident in 1986, the nation went through the five stages of grief. First there was denial that such a tragedy could occur. That was followed by depression over the loss of seven brave Americans.

And there was anger. A lot of anger. As reporters and the Rogers Commission began to investigate the accident, it emerged that the astronauts’ deaths could have been prevented. The investigations also exposed serious flaws in the space shuttle and deep dysfunction within NASA, an agency renowned for its technical competence. The picture that emerged was not pretty.

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The Year in Commercial Space 2014 (Part II)

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Dream Chaser shuttle. (Credit: NASA)

Dream Chaser shuttle. (Credit: NASA)

Second of 2 Stories

It was a busy year for a number of commercial space companies. While most of them made considerable progress, the news wasn’t all good.

A Dream Deferred

Sierra Nevada Corporation (SNC) had a pretty rough year, losing out on two major contracts and laying off more than 100 employees.

On a Friday in May, just as everyone was preparing for the long Memorial Day weekend, Virgin Galactic announced it was dumping the hybrid rubber motor SNC developed for SpaceShipTwo in favor of a hybrid nylon one produced by Scaled Composites.

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