After 15 years of making extravagant but unkept promises to fly more than 600 “future astronauts” to space, Richard Branson must now please an entirely new group of people who are usually much shorter on patience: shareholders.
Following the completion last week of a merger with Social Capital Hedosophia (SCH), the British billionaire’s Virgin Galactic suborbital “space line” will begin trading under its own name on the New York Stock Exchange (NYSE) on Monday.
Going public now is an unusual move for a space tourism company that hasn’t flown a singlet tourist to space since Branson announced the SpaceShipTwo program in 2004. Some might see it has putting the cart before the horse.
Today, Sept. 27, marks the 15th anniversary of Richard Branson announcing the launch of Virgin Galactic Airways. It’s been a long, winding road between that day and today, filled with many broken promises, missed deadlines, fatal accidents and a pair of spaceflights.
This year actually marks a double anniversary: it’s been 20 years since Branson registered the company and began searching for a vehicle the company could use to fly tourists into suborbital space.
Below is a timeline of the important events over that period.
Fourteen years ago, Virgin Galactic and New Mexico promised “tens of thousands” of tourists would fly to space from Spaceport America by 2019. Total thus far: 0.
by Douglas Messier Managing Editor
When they announced in December 2005 that Virgin Galactic would locate its space tourism business in New Mexico, Virgin Founder Richard Branson and Gov. Bill Richardson made a number of eye-popping claims about why taxpayers should back a plan to build the Southwest Regional Spaceport to serve as the space tourism company’s home base:
$331 million in total construction revenues in 2007;
2,460 construction-related jobs;
$1 billion in total spending, payroll of $300 million and 2,300 jobs by the fifth year of operation; and,
$750 million in total revenues and more than 3,500 jobs by 2020.
Virgin Galactic would sign a 20-year lease as anchor tenant and pay fees based on the number of launches it conducted. New Mexico would use the spaceport, Virgin’s presence and the funds generated to develop a large aerospace cluster.
Surprisingly, New Mexico would spend more money, $225 million, to develop a facility now known as Spaceport America than the $108 million that Branson planned to spend on developing a fleet of five SpaceShipTwos and WhiteKnightTwo carrier aircraft.
Among all the big numbers in the announcement, there was a truly astounding one that was deemed so important it was mentioned twice. (Emphasis added)
Sometime in 2020, if all goes according to plan, British billionaire Richard Branson will board Virgin Galactic’s SpaceShipTwo VSS Unity at Spaceport America in New Mexico and take the first commercial suborbital space flight in history.
The landmark flight, which Virgin has been trying to conduct for 15 years, will also be the culmination of a 30-year effort by New Mexico to become a commercial space power.
There were 15 flight tests of eight suborbital boosters in 2018, including six flights of two vehicles — Virgin Galactic’s SpaceShipTwo and Blue Origin’s New Shepard — that are designed to carry passengers on space tourism rides.
The race to provide launch services to the booming small satellite industry also resulted in nine flight tests of six more conventional boosters to test technologies for orbital systems. Two of the boosters tested are designed to serve the suborbital market as well.
A pair of Chinese startups took advantage of a loosening of government restrictions on launch providers to fly their rockets two times apiece. There was also suborbital flight tests of American, Japanese and South Korean rockets.
Virgin Galactic filed applications in November to trademark the names “Unity” and “VSS Unity”, giving a strong hint about the name of the second SpaceShipTwo the company plans to unveil on Feb. 19.
VSS stands for Virgin Space Ship. The first SpaceShipTwo, which was destroyed in a flight test on Oct. 31, 2014, was named VSS Enterprise.
The applications identify launch services as the goods and services to be delivered under the “Unity” and “VSS Unity” trademarks.
Famed physicist Stephen Hawking is set to name the vehicle during the roll out ceremony next month if he is healthy enough to travel to Mojave, Calif. from his home in England. Virgin Founder Richard Branson will preside over the event.