Tag Archives: Virgin
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...
‎UK’s Virgin set to obtain first foreign airline license in KSA
Top Stories Tamfitronics A Virgin Atlantic aircraftSaudi Arabia intends to start licensing foreign airlines to operate in the local market, to strengthen the Kingdom's position in the global aviation network and help achieve its foreign tourism targets, Al Eqtisadiah newspaper reported.Virgin Atlantic will be the first foreign airline to receive a license to enter the local market and operate flights as part of the Air Connectivity Program.The cooperation agreement with the British airline will be signed in Riyadh, on Aug. 2.Virgin Atlantic is a private British airline headquartered at Heathrow Airport. Richard Branson owns 51% of the airline's capital, while Singapore Airlines holds a 49% stake, according to data available on Argaam.
