Message from George Whitesides Virgin Galactic CEO
All over the globe, we are seeing and feeling the impact of the COVID-19 pandemic. This is one of the most significant crises we have seen in our lifetimes. Whether it is the brave doctors and nurses working around the clock to help patients, children helping their elderly parents stay safe and fed, or parents and teachers keeping their kids educated while schools are physically closed – we are all in this together and we have a responsibility to help care for one another.
With the impact of COVID-19 mounting every day, our team has worked hard to help tackle this crisis, with an initial focus on the communities we work in. I am proud of the commitment and initiative of our people at Virgin Galactic, The Spaceship Company, and Virgin Group in helping to support relief efforts. Led by our in-house flight doctors, our COVID-19 team has been working closely with local hospitals, commercial suppliers, and government authorities to provide help where it is needed most.
MOJAVE, Calif. (Virgin Galactic PR) — The Spaceship Company (TSC), Virgin Galactic’s space-system manufacturing organization, has completed the systems install and main structure for the wing of the next spaceship in Virgin Galactic’s fleet. The completion of this significant assembly means that the team can begin preparing for the mate of the spaceship’s fuselage to the new wing and moves it closer to beginning its flight test program.
A Virgin Galactic spokeswoman tells me that SpaceShipTwo VSSUnity remains in Mojave as its passenger cabin is fitted out for commercial flights.
The spacecraft is set to join WhiteKnightTwo VMS Eve at Spaceport America in New Mexico later this year to complete a series of flights that began in Mojave. Commercial suborbital flights are set to begin from there in 2020.
The company is planning an event on Thursday, Aug. 15, in which they will unveil the inside of the Virgin Galactic Gateway to Space in New Mexico.
Virgin Galactic’s customer backlog would singlehandedly double the total number of humans to have ever gone to space
Virgin Galactic has developed a set of unique technologies designed to enable a safe and familiar flying experience for customers to go into space and become officially designated astronauts
Virgin Galactic’s technologies have created the first vehicle built for commercial service to put humans into space
Virgin Galactic already has customer reservations from more than 600 people in 60 countries representing approximately $80 million in total collected deposits and $120 million of potential revenue
Virgin Galactic has already been granted its FAA commercial space launch license, and the New Mexico Spaceport has also received its Spaceport license
Pro forma enterprise value of the merger is $1.5 billion and represents:
1.5x invested capital ($1 billion+ of capital invested to date)
2.5x estimated revenue for 2023
5.5x estimated EBITDA for 2023
Social Capital Hedosophia Founder and CEO, Chamath Palihapitiya, will invest an additional $100 million in the transaction and will become Chairman of the combined entity
NEW YORK, July 9, 2019 (Virgin Galactic/Social Capital Hedosophia) — VIRGIN GALACTIC (“VG”) and SOCIAL CAPITAL HEDOSOPHIA (“SCH”), a public investment vehicle sponsored by Social Capital and Hedosophia, announced that the boards of directors of each company have approved a definitive agreement under which VG and SCH will merge, with the current shareholders of SCH expected to own up to approximately 49% of the combined company. Upon closing of the transaction, which is expected in the second half of 2019, VG will be introduced as the first and only publicly traded commercial human spaceflight company.
As we previously reported, Stratolaunch is up for sale. Paul Allen’s sister Jody Allen, the executor of her brother’s estate, has no interest in continuing the development of the giant airplane, which is designed to air launch rockets.
CNBC reports on the eye popping price tag:
Holding company Vulcan is seeking to sell Stratolaunch for $400 million, people familiar with the matter told CNBC. Vulcan is the investment conglomerate of late billionaire Paul Allen, a Microsoft co-founder. Allen died last October following complications of non-Hodgkin’s lymphoma.
The hefty price tag includes ownership of the airplane as well as the intellectual property and facilities.
Stratolaunch is the world’s largest airplane by wingspan, which stretches 385 feet — longer than an American football field. The plane is powered by six jet engines salvaged from Boeing 747 aircraft.
Allen’s vision of a massive plane that can launch rockets from the air was at least partially fulfilled in April, when Stratolaunch flew for the first time after about eight years in development. Based at the Mojave Air and Space Port in California, the giant airplane flew for more than two hours before landing after what was deemed a successful first flight.
Virgin Galactic Founder Richard Branson says he wants to fly to space aboard SpaceShipTwo as America celebrates the 50th anniversary of the Apollo 11 moon landing on July 20, Agence France Presse (AFP) reports.
“My wish is to go up on the 50th anniversary of the moon landing, that’s what we’re working on,” the head of the Virgin group said on the sidelines of an event to honor Virgin Galactic at the Air and Space Museum in Washington.
Whether a SpaceShipTwo flight on the anniversary of the moon landing will be seen as a fitting tribute to America’s greatest achievement in space or merely a giant PR distraction is uncertain.
Whether they will be able to make that date is equally unclear. SpaceShipTwo Unity is still undergoing flight tests at the Mojave Air and Space Port in California. (Branson told AFP the next flight is set for Feb. 20, weather permitting.) And practically all of his previous predictions for the start of commercial flights have been proven wrong over the past 14.5 years.
Branson plans to be on Virgin Galactic’s first commercial flight, which will take place from Spaceport America in New Mexico. His son, Sam, and other passengers are set to be aboard the flights. Perhaps he will take Apollo 11 moon walker Buzz Aldrin, who just turned 89, along with him.
Branson told AFP that Virgin Galactic costs $35 million per month or $420 million per year to operate. He previously estimated he has spent $1 billion to $1.3 billion on the SpaceShipTwo program since it was announced in 2004.
Virgin recently laid off about 40 employees from Virgin Galactic and its sister company, The Spaceship Company.
WASHINGTON, 7 Feb 2019 (Virgin Galactic PR) — Richard Branson joined Virgin Galactic and The Spaceship Company (TSC) staff and guests today at the Smithsonian’s National Air and Space Museum in Washington DC, to announce that the hybrid rocket motor which powered SpaceShipTwo, VSS Unity, to space for the first time on December 13th last year, has been donated to the museum. The rocket motor was unveiled during the ceremony and will be exhibited in the museum’s planned, new commercial space flight gallery to be called ‘Future of Spaceflight.’
NMPolitics.net is reporting that there were about 40 layoffs from Virgin Galactic and The Spaceship Company earlier this month as they prepare to begin commercial flights from Spaceport America in New Mexico.
A Virgin Galactic spokesman confirmed the layoffs in a statement via email.
Recently we separated a small number of our team in order to position our organization for the drive to commercial operations following our successful recent spaceflight, and make room for new skill sets that we need to bring in over the course of this year. In total we separated around 40 people, less than 5% of our total workforce across Virgin Galactic and TSC. We are offering support to those impacted and sincerely thank them for their contributions, and wish them well for the future.
The news comes on the heels of a decision by SpaceX to lay off about 10 percent of its roughly 6,000 employees. Stratolaunch, which like Virgin Galactic is based in Mojave, announced last week that it was laying off about 50 employees as it down scaled plans for boosters to air launch from its massive aircraft.
Saudi King Salman bin Abdulaziz Al Saud has appointed his nation’s first – and thus far, only – astronaut to head up a newly created national space agency.
Prince Sultan bin Salman, who flew into orbit aboard the space shuttle Discovery in 1985, was appointed to the position. Salam, 62, is one of the king’s second son.
As a payload specialist aboard the flight, Salam helped to deploy the ARABSAT-1B satellite from the shuttle’s cargo bay for the Arab Satellite Communications Organization (ARABSAT). His flight marked the first time an Arab, a Muslim and a member of a royal family traveled to space.
Richard Branson’s Mojave-based space companies have seen two high-level departures in recent months as they prepare to launch SpaceShipTwo on a spaceflight for the first time.
Doug Shane has left his position as chairman of The Spaceship Company (TSC), which builds SpaceShipTwo suborbital tourism vehicles, WhiteKnightTwo mother ships, and propulsion systems for Virgin Galactic.
Shane remains a member of the company’s board of advisors. A Virgin Galactic spokesman said the company has not replaced Shane as chairman.
Jonathan Firth, who served as executive vice president of spaceport and program development, has also left Virgin Galactic after 14 years with the company. Firth’s Linkin page indicates he has left Virgin Galactic but does not say when he did so.
Some day, Richard Branson might fly to space, gaze out the window, and see stars with his naked eyes, unencumbered by the Earth’s atmosphere or the optics of a telescope.
For the moment, he has to settle for his own fame and a star encased in concrete along the Hollywood Walk of Fame.
The British billionaire was in Los Angeles last month for the unveiling of his star on that famous boulevard. While he was in the neighborhood, he popped up to the Mojave Air and Space Port, where Virgin Galactic and The Spaceship Company are working to make his dream of spaceflight a reality.
Given his early October prediction that Virgin Galactic’s SpaceShipTwo Unity would fly to space in “weeks, not months,” one might have expected him to be here to view a spaceflight he has been promising for the past 14 years.
Psychologists have identified five stages of grief: denial, anger, bargaining, depression and acceptance. These stages are clearly on display in Virgin Galactic’s Rocket Man, Nicholas Schmidle’s profile of Mark Stucky in The New Yorker. A substantial part of the story chronicles how the test pilot dealt with the death of his close friend, Mike Alsbury, in the breakup of SpaceShipTwo Enterprise during the vehicle’s fourth powered flight four years ago.
It’s a touching portrait of Stucky’s grief for his fellow Scaled Composites pilot, with whom he had flown while testing the suborbital spacecraft being developed for Richard Branson’s Virgin Galactic. (Stucky later moved over to Virgin, which took over the SpaceShipTwo program after the accident, to test the second SpaceShipTwo, Unity.)
However, Schmidle tells only half the story in his otherwise insightful profile. He places nearly all the blame on Alsbury, while ignoring the findings of a nine-month federal investigation that identified systemic flaws in the development program and the government’s oversight that contributed to the accident.
It’s similar to the flawed, self-serving narrative that Branson used in his latest autobiography, “Finding My Virginity,” complete with a not-entirely-fair jab at the press coverage of the crash. The billionaire uses pilot error to obscure a decade of fatal mistakes and miscalculations. (more…)
The Mojave Air and Space Port’s “taxiway of dreams” — Taxiway B — will be extended with the help of a $1.05 million grant from the U.S. Department of Transportation.
“These Airport Improvement Grants are investments in our country’s critical infrastructure,” said DOT Secretary Elaine Chao in a press release. “This grant is a down payment to ensure Mojave remains an economic engine as demand grows.”
The taxiway is so nicknamed because it was built without having a specific tenant signed up. Taxiway B serves the FAITH hangar, which is home to Virgin Galactic, The Spaceship Company and their two vehicles, SpaceShipTwo and WhiteKnightTwo.
A sister company, Virgin Orbit, plans to operate its Boeing 747 out of Mojave. The aircraft, which is named Cosmic Girl, will air launch satellites over the Pacific Ocean with the LauncherOne booster.
The funding to Mojave is part of $770.8 million in airport infrastructure grants announced on Friday. It is the third allotment of a total of $3.18 billion allocated under the DOT’s Airport Improvement Program.
Virgin Galactic Founder Richard Branson was one of three people honored for contributions to further space exploration during the Apollo Celebration Gala held at NASA’s Kennedy Space Center on Saturday.