Richard Branson’s Virgin Galactic lays off 185 employees, 18% of workforce. Nearly 80 worked in MojaveBY SAMANTHA MASUNAGASTAFF WRITER PUBLISHED NOV. 8, 2023 UPDATED NOV. 9, 2023 1:40 PM PTRichard Branson‘s Virgin Galactic will lay off 185 employees, or about 18% of the company, as the space tourism firm attempts to conserve cash, ride out the skittish capital markets and focus resources on a new line of spacecraft.
Could an option be to delay current ticket holders to the new vehicles, but fly flights now at whatever they need to charge so that they are making a profit?
(They may have learned a lesson or two from VO, and are looking at all possible ways to extend the runway).
Virgin Galactic is thrilled to announce the appointment of Luigi Brambilla to Virgin Galactic's Board of Directors. Luigi brings with him an impressive 18-year track record of experience spanning the Travel & Leisure, Wellness, Entertainment, and Financial sectors, with a notable decade-long tenure at the Virgin Group. 🚀 Welcome aboard, Luigi!
VIRGIN GALACTIC APPOINTS LUIGIBRAMBILLA TO BOARD OF DIRECTORSORANGE COUNTY, Calif. – November 13, 2023 – Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or “Virgin Galactic”) today announced the appointment of Luigi Brambilla to Virgin Galactic’s Board of Directors. Brambilla is an experienced investment and capital markets executive with an 18-year track record of experience across the Travel & Leisure, Wellness, Entertainment and Financial sectors—including 10 years at the Virgin Group. Michael Colglazier, Chief Executive Officer of Virgin Galactic, said: “We are very pleased to announce Luigi as the newest member of our Board. His long history with Virgin Group, along with his extensive investment and capital markets expertise, make him an ideal fit for the role as we continue to build our Delta Class fleet and ready the business for profitable growth.” Brambilla said: “I am honored to join the Board in support of a visionary company that has pioneered the world’s first commercial spaceline and created a spaceflight system that can only be described as revolutionary. It’s an exciting new chapter for Virgin Galactic, and I’m thrilled to play a part in building its long-term success for years to come.” Brambilla’s appointment to the Board fills the seat previously held by Evan Lovell, who served on Virgin Galactic’s Board of Directors until his passing in June of 2023. Virgin Galactic’s Board now includes nine directors who collectively bring significant experience in aerospace, manufacturing, safety, risk oversight, supply-chain management, consumer experience and finance.
https://twitter.com/virgingalactic/status/1724469767044809065QuoteVirgin Galactic is thrilled to announce the appointment of Luigi Brambilla to Virgin Galactic's Board of Directors. Luigi brings with him an impressive 18-year track record of experience spanning the Travel & Leisure, Wellness, Entertainment, and Financial sectors, with a notable decade-long tenure at the Virgin Group. 🚀 Welcome aboard, Luigi! https://www.virgingalactic.com/news/virgin-galactic-appoints-luigi-brambilla-to-board-of-directorsQuoteVIRGIN GALACTIC APPOINTS LUIGIBRAMBILLA TO BOARD OF DIRECTORSORANGE COUNTY, Calif. – November 13, 2023 – Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or “Virgin Galactic”) today announced the appointment of Luigi Brambilla to Virgin Galactic’s Board of Directors. Brambilla is an experienced investment and capital markets executive with an 18-year track record of experience across the Travel & Leisure, Wellness, Entertainment and Financial sectors—including 10 years at the Virgin Group. Michael Colglazier, Chief Executive Officer of Virgin Galactic, said: “We are very pleased to announce Luigi as the newest member of our Board. His long history with Virgin Group, along with his extensive investment and capital markets expertise, make him an ideal fit for the role as we continue to build our Delta Class fleet and ready the business for profitable growth.” Brambilla said: “I am honored to join the Board in support of a visionary company that has pioneered the world’s first commercial spaceline and created a spaceflight system that can only be described as revolutionary. It’s an exciting new chapter for Virgin Galactic, and I’m thrilled to play a part in building its long-term success for years to come.” Brambilla’s appointment to the Board fills the seat previously held by Evan Lovell, who served on Virgin Galactic’s Board of Directors until his passing in June of 2023. Virgin Galactic’s Board now includes nine directors who collectively bring significant experience in aerospace, manufacturing, safety, risk oversight, supply-chain management, consumer experience and finance.
.@AviationWeek Network announced the winners of the 66th Annual Laureate Awards (#AWLAUR), honoring extraordinary achievements in the global aerospace arena. We’re proud to see Mike Moses, President of Virgin Galactic’s Spaceline, recognized in the Space category.
Quote.@AviationWeek Network announced the winners of the 66th Annual Laureate Awards (#AWLAUR), honoring extraordinary achievements in the global aerospace arena. We’re proud to see Mike Moses, President of Virgin Galactic’s Spaceline, recognized in the Space category.
No further investments in Virgin Galactic, says Richard BransonBranson's business empire "no longer has the deepest pockets."PHILIP GEORGIADIS AND PEGGY HOLLINGER, FINANCIAL TIMES - 12/2/2023, 6:58 PMSir Richard Branson has ruled out putting more money into his lossmaking space travel company Virgin Galactic, saying his business empire “does not have the deepest pockets” any more.
Maybe a new space start-up could purchase the assets and make money off of it. Seams like most of the hard work has already been done.
As we head into 2024, we're taking a look back at everything the team accomplished in 2023. Revisit the Virgin Galactic spaceflights achievements of this year and look forward to what’s on the horizon with us. 💫
Virgin Galactic expects no delay to next suborbital flightJeff FoustFebruary 28, 2024WASHINGTON — Virgin Galactic says it does not expect an investigation into an issue on its most recent suborbital launch to delay its next one as it turns its focus to a new generation of vehicles.
For Virgin Galactic, becoming profitable means a pause in flying to spaceVirgin Galactic has just one more flight planned for its only operational spaceship.by Stephen Clark - Mar 1, 2024 12:26am GMT
Lots of details in the article, including 725 customers awaiting flights, tickets now $600,000 each (although can’t buy now while Delta ships in development).
