Richard Branson rules out further investment in Virgin Galactic – Kommersant
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British entrepreneur Richard Branson said that he does not plan to invest further in the space travel company Virgin Galactic, since there are no more financial resources for this.
“We don’t have a lot of financial resources post-COVID, and Virgin Galactic has $1 billion or so. I think he should have enough money to do his job on his own,” Mr Branson told the newspaper. Financial Times.
Virgin Galactic, part of the international conglomerate of Virgin Group companies, plans to organize tourist suborbital space flights and launches of small artificial satellites. It was founded by Richard Branson in 2004.
At the end of June, Virgin Galactic successfully launched its commercial spaceflight program. However, in the second quarter of 2023, the company’s losses exceeded income. The company itself attributed this to increased investment in research and development. In April, Richard Branson’s other company, Virgin Orbit, announced about bankruptcy.
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