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Technology Boeing to invest $20 million in Virgin Galactic

03:25  09 october  2019
03:25  09 october  2019 Source:   msn.com

Virgin Galactic's Spaceport America is no longer an empty hangar

Virgin Galactic's Spaceport America is no longer an empty hangar Virgin Galactic has officially opened Spaceport America's "Gateway to Space" building few months after it started moving its staff and spacecraft to the New Mexico facility. In addition, the VMS Eve has arrived at the spaceport this week, which Chief Pilot Dave Mackay says brings "Virgin Galactic closer to starting commercial service." VMS Eve is the aerospace company's launch vehicle, in charge of carrying its spacecraft to the skies before dropping it mid-air.

Virgin Galactic CEO George Whitesides says the company is projecting commercial flights by mid-2020. Virgin Galactic announced in July it intends to go public through a merger with Social Capital Hedosophia Holdings Corp. Boeing 's investment is in return for shares

Virgin Galactic founder Richard Branson speaks during the Space Symposium in Colorado Springs. (Reuters) - Boeing Co (N:BA) said on Tuesday it would invest $ 20 million in Richard Branson's space-tourism venture Virgin Galactic giving it more money to take on rivals in the race to space.

LOS ANGELES (AP) — Boeing plans to invest $20 million in Virgin Galactic, looking at possibilities beyond the space tourism company's immediate goal of launching passengers on suborbital flights as early as next year.

FILE - In this Dec. 13, 2018 file photo, Virgin Galactic aircraftVSS Unity reaches space for the first time during its fourth powered flight from Mojave Air and Space Port, Calif. Boeing plans to invest $20 million in Virgin Galactic as the space tourism company nears its goal of launching passengers on suborbital flights. The companies announced the investment Tuesday, Oct. 8, 2019, saying they will work together on broadening commercial access to space and transforming global travel technologies. Virgin Galactic has conducted successful test flights of its winged rocket ship at Mojave, California, and is preparing to begin operations at Spaceport America in New Mexico. (AP Photo/Matt Hartman, File)© Provided by The Associated Press FILE - In this Dec. 13, 2018 file photo, Virgin Galactic aircraftVSS Unity reaches space for the first time during its fourth powered flight from Mojave Air and Space Port, Calif. Boeing plans to invest $20 million in Virgin Galactic as the space tourism company nears its goal of launching passengers on suborbital flights. The companies announced the investment Tuesday, Oct. 8, 2019, saying they will work together on broadening commercial access to space and transforming global travel technologies. Virgin Galactic has conducted successful test flights of its winged rocket ship at Mojave, California, and is preparing to begin operations at Spaceport America in New Mexico. (AP Photo/Matt Hartman, File)

The companies announced the investment Tuesday, saying they will work together on broadening commercial access to space and transforming global travel technologies.

Look inside Virgin Galactic's shiny new Spaceport America

Look inside Virgin Galactic's shiny new Spaceport America For a couple years now Virgin Galactic's Spaceport America was more aspirational than functional, but now it's been built out with the necessaries for commercial spaceflight — mainly coffee. The company just showed off the newly redesigned space from which it plans to launch flights sometime. Much of the undulating, aesthetically rusted building, located deep in the desert of New Mexico, is dedicated to housing the carrier craft and rocket planes that the company has been testing for the last few years.

The investment comes as Virgin Galactic recently announced it was going public by merging with Social Capital Hedosophia, a New York investment firm. Boeing ’s investment would be in return for shares in Virgin Galactic , so the deal is contingent on the closing of the merger

Boeing 's investment will net the company new shares in Virgin Galactic . Virgin Galactic is making a name for itself as well. The company has already flown people to space twice aboard its latest SpaceShipTwo suborbital space plane, VSS Unity, on test flights in December 2018 and February 2019.

The sum is a fraction of the $1 billion Virgin Galactic says it has invested in its program, but Boeing called it a strategic investment rather than about a specific craft that would enable high-speed, point-to-point transportation around the world.

"It's really about catalyzing the partnership first and foremost between two companies that bring incredible complementary capabilities to commercial space and to the key technologies needed — and frankly beyond just technologies. The whole end-to-end solutions to bring high speed mobility to the masses," said Brian Schettler, senior managing director of Boeing HorizonX Ventures.

FILE - In this Sept. 25, 2013, file photo, the first SpaceShipTwo is seen suspended at center beneath its twin-fuselage mother ship at the Virgin Galactic hangar at Mojave Air and Space Port in Mojave, Calif. Boeing plans to invest $20 million in Virgin Galactic as the space tourism company nears its goal of launching passengers on suborbital flights. The companies announced the investment Tuesday, Oct. 8, 2019, saying they will work together on broadening commercial access to space and transforming global travel technologies. Virgin Galactic has conducted successful test flights of its winged rocket ship at Mojave, California, and is preparing to begin operations at Spaceport America in New Mexico. (AP Photo/Reed Saxon, File)© Provided by The Associated Press FILE - In this Sept. 25, 2013, file photo, the first SpaceShipTwo is seen suspended at center beneath its twin-fuselage mother ship at the Virgin Galactic hangar at Mojave Air and Space Port in Mojave, Calif. Boeing plans to invest $20 million in Virgin Galactic as the space tourism company nears its goal of launching passengers on suborbital flights. The companies announced the investment Tuesday, Oct. 8, 2019, saying they will work together on broadening commercial access to space and transforming global travel technologies. Virgin Galactic has conducted successful test flights of its winged rocket ship at Mojave, California, and is preparing to begin operations at Spaceport America in New Mexico. (AP Photo/Reed Saxon, File)

Schettler said that with Boeing nearing flight of its Starliner astronaut crew capsule and Virgin Galactic on the cusp of commercial operations, the companies are at an "inflection point."

U.S. FAA requiring inspections for cracks on some 737 NG planes

  U.S. FAA requiring inspections for cracks on some 737 NG planes U.S. FAA requiring inspections for cracks on some 737 NG planes

(Reuters) - Boeing Co (BA.N) said on Tuesday it would invest $ 20 million in Richard Branson’s space-tourism venture Virgin Galactic giving it more money to Boeing would receive new shares of Virgin Galactic in return for the investment made by its venture capital arm Boeing HorizonX Ventures.

Boeing Co. said on Tuesday it would invest $ 20 - million in Richard Branson’s space-tourism venture Virgin Galactic giving it more money to take on rivals in the race to space. Branson founded space ventures like Virgin Galactic and Virgin Orbit to cash in on rising demand for space travel and launch

"It just seemed like from a tech maturity (standpoint), from an opportunity to start driving the next phase of all this, it seemed to make sense," he said of the investment.

The collaboration won't lead to Virgin Galactic's current craft, a design called SpaceShipTwo, being flown across oceans, but significant lessons are expected from flying people aboard a highly reusable airframe at three times the speed of sound with rapid turnaround times, said Virgin Galactic CEO George Whitesides.

FILE - In this Oct. 17, 2011 file photo, guests stand outside the new Spaceport America hangar in Upham, N.M. Boeing plans to invest $20 million in Virgin Galactic as the space tourism company nears its goal of launching passengers on suborbital flights. The companies announced the investment Tuesday, Oct. 8, 2019, saying they will work together on broadening commercial access to space and transforming global travel technologies. Virgin Galactic has conducted successful test flights of its winged rocket ship at Mojave, California, and is preparing to begin operations at Spaceport America in New Mexico. (AP Photo/Matt York, File)© Provided by The Associated Press FILE - In this Oct. 17, 2011 file photo, guests stand outside the new Spaceport America hangar in Upham, N.M. Boeing plans to invest $20 million in Virgin Galactic as the space tourism company nears its goal of launching passengers on suborbital flights. The companies announced the investment Tuesday, Oct. 8, 2019, saying they will work together on broadening commercial access to space and transforming global travel technologies. Virgin Galactic has conducted successful test flights of its winged rocket ship at Mojave, California, and is preparing to begin operations at Spaceport America in New Mexico. (AP Photo/Matt York, File)

Virgin Galactic has conducted successful test flights of its winged rocket ship at Mojave, California, and is preparing to begin operating at Spaceport America in New Mexico. Test flights will be conducted there before passenger flights begin.

Virgin Galactic has not announced a specific date for beginning commercial flights but Whitesides said the company is projecting that by mid-2020.

Virgin Galactic announced in July it intends to go public through a merger with Social Capital Hedosophia Holdings Corp.

Boeing's investment is in return for shares, so it is contingent on that transaction closing.

U.S. safety board wants Boeing to redesign part after fatal 737 NG accident .
The U.S. National Transportation Safety Board on Tuesday called on Boeing Co to redesign the fan cowl structure on all 737 NG planes and retrofit existing planes after an April 2018 incident in which a woman was killed on Southwest Airlines plane after an engine failure caused by a fan blade. © Chris Sweda/Chicago Tribune Two Southwest Airlines Boeing 737-8 Max jets are seen March 13, 2019, near a hangar at Midway Airport in Chicago. The airline reported first-quarter results on April 25, and managed to surpass Wall Street expectations.

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