The Moscow Timesreports that a Russian space tourism company is ceasing operations without having flown any tourists.
Kosmokurs’ operations will cease due to “insurmountable difficulties” in coordinating with local authorities on the cosmodrome project as well as the company’s “inability to obtain needed regulatory documents from the Defense Ministry” for the design of a suborbital tourist rocket, its CEO Pavel Pushkin told RIA Novosti.
Pushkin founded the private space corporation in 2014 after being inspired by the early success of companies like SpaceX, founded by U.S. billionaire Elon Musk, and Blue Origin, founded by Amazon CEO Jeff Bezos.
Russia’s state space agency Roscosmos in 2017 had approved Kosmokurs’ ambitious plan to send tourists to space by 2025. Roscosmos is now looking into hiring Kosmokurs’ 50 or so employees, RIA Novosti reported.
Wall Street’s latest easy money craze has attracted a growing number of space companies. But, just because they can go public, should they?
by Douglas Messier Managing Editor
Seven space companies have gotten caught up in the SPACovirus sweeping through Wall Street. The impact on the space industry is going to be interesting to watch.
A SPAC is a special purpose acquisition company. It’s a publicly traded investment firm that, with outside investors, acquires or merges with another company, and then takes the acquisition public under its own name.
The Wall Street Journalreports that Richard Branson has hired Credit Suisse Group AG and LionTree LLC to take Virgin Orbit public through a special purpose acquisition company (SPAC) at a valuation of up to $3 billion.
Move follows Palihapitiya’s sale of shares worth nearly $98 million in December
Virgin Galactic shares continued weeks-long decline after news broke
Palihapitiya indirectly owns a large stake through Social Capital Hedosophia
by Douglas Messier Managing Editor
Virgin Galactic Chairman Chamath Palihapitiya has sold 6.2 million personal shares in the suborbital space tourism company worth about $213 million. The sale zeros out his personal stake in Virgin Galactic.
The move follows Palihapitiya’s sale of 3.8 million shares worth $97.8 million in December. The nearly $311 million gain is more than triple the $100 million he personally invested in Virgin Galactic when it went public 16 months ago.
Rollout of Second Spaceship Scheduled to Take Place on March 30
Announced Expected Timing of Revenue-Generating Flight with the Italian Air Force
Next Rocket-Powered Spaceflight Targeted to Occur in May
LAS CRUCES, N.M. (Virgin Galactic PR) — Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic” or the “Company”), a vertically integrated aerospace and space travel company, today announced its financial results for the fourth quarter and full year ended December 31, 2020.
LAS CRUCES, NM (Virgin Galactic PR) — Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic”), a vertically integrated aerospace and space travel company, today announced the appointment of Doug Ahrens as its new Chief Financial Officer, effective March 1, 2021. Ahrens will succeed Jon Campagna, who is stepping down as Chief Financial Officer following Virgin Galactic’s successful transition from private to public company.
LAS CRUCES, NM (Virgin Galactic PR) — Virgin Galactic Holdings, Inc. (NYSE: SPCE), a vertically integrated aerospace and space travel company, today announced the appointments of Swami Iyer as its President of Aerospace Systems and Stephen Justice as its Vice President of Engineering.
Monday marked the second anniversary of Virgin Galactic’s most recent flight above 50 miles, the altitude the Federal Aviation Administration (FAA) judges to be the boundary of space.
In the days leading up to the anniversary, I kept thinking Virgin Galactic will announce something on Monday. Some bit of news to distract people from 24 months without a spaceflight. Something to show forward progress ahead of what is likely to be yet another quarterly earnings call on Thursday soaked in red ink.
Virgin Galactic had planned to fly from Spaceport America in New Mexico as early as Saturday. The company has said there are open dates for the rest of February.
The suborbital flight will include two pilots and a load of microgravity experiments in the passenger cabin. It will be a repeat of a flight that was aborted in December after VSS Unity‘s computer lost contact with the ship’s hybrid engine.
The upcoming flight will be the first of three final suborbital tests of the rocket plane before Virgin Galactic begins flying paying passengers. The company said it might add more flight tests if necessary.
Newly arrived back on Earth after a quick visit to space, Virgin Galactic Chief Astronaut Beth Moses was effusive as she described the suborbital flight she had just taken aboard the company’s SpaceShipTwo rocket plane, VSS Unity.
“Richard, you’re going to love it!” she told Virgin Chairman Richard Branson, who had remotely monitored the Feb. 22, 2019 flight that had taken place over California’s Mojave Desert.
HOUSTON (Axiom Space PR) – Axiom Space on Tuesday announced its crew for humankind’s first flight of a group of private individuals to a Low Earth Orbit destination – the first-ever entirely private mission proposed to fly to the International Space Station (ISS).
The proposed historic Axiom Mission 1 (Ax-1) will consist of: former NASA astronaut and Axiom vice president Michael López-Alegría as commander; American entrepreneur and non-profit activist investor Larry Connor as pilot; Canadian investor and philanthropist Mark Pathy; and impact investor and philanthropist Eytan Stibbe of Israel.