Virgin Galactic seeks to raise money to accelerate growth of spaceplane fleet
Top Stories Tamfitronics VMS Eve, Virgin Galactic's mothership aircraft used by its suborbital spaceplanes. The company is looking to raise $300 million that will mostly be used to develop a second mothership plane. Credit: Virgin GalacticWASHINGTON — Virgin Galactic is proposing to raise $300 million in additional capital to accelerate production of suborbital spaceplanes and a mothership aircraft the company says can fuel its long-term growth.In a Nov. 6 earnings call to discuss the suborbital spaceflight company’s third quarter financial results, Virgin Galactic executives said that while work on the first two Delta-class spaceplanes remains on budget and schedule, they see an opportunity to raise money to add vehicles to the fleet sooner that previously planned.“We have an exciting opportunity to captures economies of scale from our existing investments,” Michael Colglazier, chief executive of Virgin...
