Virgin Galactic completes first manned suborbital flight in two years

Virgin Galactic yesterday completed its first manned suborbital flight since July 2021, carrying six employees to about fifty miles altitude for about five minutes.

Virgin Galactic’s “mothership” aircraft, VMS Eve, took off from the runway at Spaceport America in New Mexico at 11:15 a.m. Eastern. The takeoff occurred more than an hour behind a schedule provided by the company the day before, but the company did not disclose the reason for the delay.

Virgin Galactic released VSS Unity at 12:23 p.m. Eastern. The spaceplane appeared to perform a nominal burn of its hybrid rocket engine before descending to a runway landing back at Spaceport America nearly 15 minutes later. Virgin Galactic said the vehicle reached a peak altitude of 87.2 kilometers — above the 50-mile altitude used by U.S. government agencies for awarding astronaut wings, but below the 100-kilometer Kármán line — and top speed of Mach 2.94.

The company did not live stream the event, in sharp contrast to the heavy coverage it always provided when Richard Branson was in charge. It now says it soon begin regularly passenger flights.

Virgin Galactic is replacing its WhiteKnightTwo mother ship

Virgin Galactic yesterday announced that it has hired Aurora, a Boeing subsidiary, to build two new mother ships to to replace WhiteKnightTwo and launch its SpaceShipTwo suborbital space planes.

Virgin Galactic Chief Executive Officer Michael Colglazier said: “Our next generation motherships are integral to scaling our operations. They will be faster to produce, easier to maintain and will allow us to fly substantially more missions each year. Supported by the scale and strength of Boeing, Aurora is the ideal manufacturing partner for us as we build our fleet to support 400 flights per year at Spaceport America.” [emphasis mine]

The press release claims the first new mother ship will begin operations in 2025.

Forgive me if I am very very skeptical. The highlighted words tell us a lot about this company. First, we now have confirmation that the company has had problems maintaining WhiteKnightTwo. This fact was strongly implied when all planned flights in ’21 and ’22 were cancelled following that first passenger flight in July ’21 in order to do a full maintenance refit of WhiteKnightTwo. This press release tells us that the company’s management has recognized that WhiteKnightTwo cannot be maintained much longer.

Second, the company continues to overhype its future, even without Richard Branson. The chances of it flying 400 times per year, anytime in the near future, is so slim as to be non-existent.

Third, the need to hire an outside company to build these new mother ships also suggests that Virgin Galactic no longer has the capability of doing it itself.

Right now the company’s stock is selling for about $7 per share, well below its initial price of about $12. Expect it to fall again.

Another technical problem identified in Virgin Galactic spaceship

Capitalism in space: Virgin Galactic announced late Friday, when few would notice it, that a new technical problem has been identified with its Virgin Galactic spaceship.

In a statement issued late Sept. 10, Virgin Galactic said a third-party supplier, which it did not identify, notified the company of a potential manufacturing defect in a flight control actuation system component. Virgin said it is conducting inspections with the vendor to determine if the suspect component needs to be repaired or replaced.

Because of the inspections, Virgin Galactic said the earliest it would perform the next SpaceShipTwo mission, called Unity 23, is the middle of October. The company had previously stated the mission would take place in late September or early October.

This issue is completely independent from the flight path anomaly that occurred during the July suborbital flight that has caused the FAA to ground Virgin Galactic.

Questions raised about Branson’s most recent Virgin Galactic stock sale

It appears that both Virgin Galactic and Richard Branson might have violated SEC regulations when they sold more than $800 million in stock this summer without notifying buyers of the FAA investigation into the anomaly on Branson’s July 11th suborbital flight that has now grounded all SpaceShipTwo flights.

On July 12, Virgin Galactic announced in a Securities and Exchange Commission filing that it was selling $500 million worth of common stock. The filing did not mention that during its edge-of-space flight the day before, its aircraft deviated from its air-traffic-control clearance, a mishap that would ultimately trigger a Federal Aviation Administration investigation and lead to the indefinite grounding of its space-tourism operation.

The FAA began investigating on July 23, a spokesperson told Insider. On August 11, the agency grounded Virgin Galactic’s rocket plane.

In an August 13 SEC filing, Richard Branson, the English billionaire who founded Virgin Galactic in 2004, said that in the previous three days, he had sold roughly 10.5 million personal shares, a stake worth about $300 million.

Let’s review the timeline.

July 11: The flight occurs, with high winds forcing it outside its planned flight path.
July 12: Virgin Galactic sells $500 million in stock, without mentioning the anomaly.
July 16: By this date the company was required to inform the FAA of any anomalies during the flight.
July 23: The FAA initiates its investigation..
August 11: The FAA grounds Virgin Galactic.
August 13: SEC filing reveals Branson had sold $300 million in stock without mentioning the anomaly.
September 1: New Yorker article reveals investigation of anomaly.

Though no investigation had been started, Virgin Galactic must have known about the flight anomaly when it sold its $500 million in shares on July 12, right after the flight.. By August, when Branson sold his $300 million in shares, that investigation was on-going. Yet he also failed to mention the anomaly.

As I have said before, Branson has all the markings of a conman. He has very carefully been selling stock, reducing his share in the company in the past two years from 51% to 18%, with each stock sale carefully timed to take advantage of some event that pumped up the stock’s price.

All in all, the pattern by Branson suggests he really does not have much faith in Virgin Galactic’s future.

Flight anomalies occurred during Branson’s suborbital flight in July

Capitalism in space: According to a New Yorker story today, the suborbital flight of Richard Branson in July experienced several flight anomalies that the article suggests should have caused it to end early before reaching space.

The rocket motor on Virgin Galactic’s ship is programmed to burn for a minute. On July 11th, it had a few more seconds to go when a red light also appeared on the console: an entry glide-cone warning. This was a big deal. I once sat in on a meeting, in 2015, during which the pilots on the July 11th mission—Dave Mackay, a former Virgin Atlantic pilot and veteran of the U.K.’s Royal Air Force, and Mike Masucci, a retired Air Force pilot—and others discussed procedures for responding to an entry glide-cone warning. C. J. Sturckow, a former marine and nasa astronaut, said that a yellow light should “scare the [“#$%#] out of you,” because “when it turns red it’s gonna be too late”; Masucci was less concerned about the yellow light but said, “Red should scare the crap out of you.” Based on pilot procedures, Mackay and Masucci had basically two options: implement immediate corrective action, or abort the rocket motor. According to multiple sources in the company, the safest way to respond to the warning would have been to abort. (A Virgin Galactic spokesperson disputed this contention.)

Aborting at that moment, however, would have dashed Branson’s hopes of beating his rival Bezos, whose flight was scheduled for later in the month, into space. Mackay and Masucci did not abort.

Virgin Galactic’s response, including the FAA’s statement, can be found here. The company noted that the flight deviation occurred because of unexpected high altitude winds. The FAA’s comment I think provides some reasonably perspective:
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Virgin Galactic shares crash after Branson flight

Capitalism in space: The price of the stock for Virgin Galactic plummeted 17% shortly after Richard Branson’s flight on July 11th, experiencing its worst day in more than a year.

The drop occurred shortly after the company announced it was going to sell an additional $500 million in new shares.

Virgin Galactic, which trades under the ticker SPCE, fell 17.3% after it filed notice of its stock sale offering with the Securities and Exchange Commission. Trading in Virgin Galactic was briefly halted Monday morning due to volatility.

The drop in price is likely a reflection of several things, none of which reflects negatively on the overall bright picture for commercial space. First, the release of new stock meant the supply was greater than demand, and thus the price dropped. Second, Branson’s flight, while grand, also highlighted its limitations. While there certainly appears to be a market for suborbital tourism, I suspect the arrival of regular and likely increasingly cheaper orbital flights will cut into this market. In comparison, a short five minutes of weightlessness cannot compare with spending a week in orbit.

Third, Virgin Galactic as a company has nowhere to go. The rocket is essentially an engineering dead end. It can do suborbital flights relatively cheaply and quickly, but the demand for such flights is limited, especially with the arrival of relatively cheaper orbital access.

Virgin Galactic finally flies Richard Branson on its reusable suborbital Unity spacecraft

Capitalism in space: After almost two decades of development and almost as many false promises by Richard Branson, Branson today finally flew on his SpaceShipTwo ship dubbed VSS Unity.

Unity was taken to about 45,000 feet by the carrier airplane WhiteKnightTwo, where it was released and its engines fired.

Once VSS Unity’s rocket engine cut off, the spacecraft’s momentum took it to an altitude of around 90 kilometers. This is above the minimum altitude of 80 kilometers required by the US Air Force, NASA, and the FAA to grant astronaut wings, and is above the discernible atmosphere. This apogee, or maximum altitude, is below the Federation Aeronautique Internationale (FAI) recognized boundary of space at 100 kilometers, which SpaceShipOne crossed twice to claim the X-Prize in 2004.

The craft spent around five minutes in weightlessness, with the crew evaluating the experience and looking at Earth and space from 17 windows on the craft, before they strapped back into their seats for reentry.

I have embedded below the fold the NASASpaceflight.com live feed, cued to just before Unity was dropped from WhiteKnightTwo. The commentary is far less offensive than the blather on the official live feed, but they end up losing the view from their live feed and switched to the Virgin Galactic live feed, rewinding it to pick it up just before the drop. You then see that feed, with good images and with all the blather, but no interior video during the weightless period. I suspect they want to edit that footage before releasing it, just in case anyone had vomited or Branson looked uncomfortable in any way.

Overall, Virgin Galactic deserves congratulations for finally accomplishing this flight. That it took so long and occurred just before the start of commercial manned orbital flights unfortunately pops the balloon on this achievement. The flight was so short that it now seems somewhat disappointing compared to the upcoming orbital tourist flights.

The next suborbital flight by Blue Origin on July 20th, and unlike today’s Virgin Galactic flight, will carry the first paying passenger, making it the first wholly financed and built private commercial space flight.
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FAA approves commercial launch license for Virgin Galactic

Capitalism in space: FAA today approved Virgin Galactic’s commercial launch license, allowing it to fly commercial paying tourists on its suborbital spacecraft, VSS Unity.

When Virgin Galactic will begin doing so remains uncertain. There have been rumors that the company is thinking of quickly scheduling a flight carrying Richard Branson for July 4th, thus beating Jeff Bezos’s planned July 20th into space. However, the company has denied this, referring back to its announced schedule.

Virgin Galactic has previously set out a schedule for this year, as it continues to mold the kind of service it plans to offer its commercial customers. This would see four of the company’s employees climb aboard Unity (along with the two pilots) for the next flight, to get a sense of the experience that future ticketed passengers will enjoy.

The flight after that is likely to see Sir Richard himself go to the edge of space, as a statement of readiness for commercial service.

And it’s then on the subsequent outing that the company is expected to start earning revenue from carrying people – although this is a mission that has been block booked by the Italian Air Force, which is going to put several payload specialists aboard Unity to supervise a number of microgravity experiments.

Regardless of when Branson’s first flight will be, that first commercial flight will come about fourteen years after the date Branson first predicted for such a flight. In 2004 he predicted he would fly by 2007 after hundreds of test flights, followed then by more hundreds of commercial flights each year. None of that ever happened, nor does it look like the flight numbers will ever approach his prediction.

Investors sue Virgin Galactic for stock fraud

Capitalism in space: A federal complaint has been filed against Virgin Galactic, claiming the company made false and misleading reports concerning its financial state.

Investor Shane Levin and other unnamed plaintiffs claim in their complaint that Virgin Galatic CEO Michael Colglazier, former CEO George Whitesides, CFO Doug Ahrens and former CFO Jon Campagna knowingly presented incorrect financial statements to inflate the company’s stock price and entice buyers.

The lawsuit is seeking class-action status and unspecified damages, in addition to legal fees.

Also today an anonymous source claimed that, assuming Virgin Galactic can get FAA approval, the company has suddenly changed its test flight schedule and is now planning to fly Richard Branson on its SpaceShipTwo Unity spacecraft on July 4th. This would have Branson reach suborbital space about two weeks ahead of Jeff Bezos, who is presently scheduled to fly on a suborbital flight his own New Shepard spacecraft on July 20th.

Branson for almost two decades has promised he would fly on the first commercial operational flight of SpaceShipTwo, while also promising repeatedly that this flight was only months away. All of those promises were bunkum. Now faced with Jeff Bezos grabbing that first flight, Branson is suddenly scrambling to finally get it done, even if it means disrupting Virgin Galactic’s already announced test schedule.

The first story above tells us something about the honesty of Virgin Galactic’s finances. The second story tells us something about the trustworthiness of its management and engineering. I might consider the pace of Blue Origin in the past five years to have been far too slow, but they have at least shown a careful deliberate path to flight. Bezos’ July 20th flight might be a stunt, but it is being done to demonstrate his trust in his product.

Not so much from Branson and Virgin Galactic. For Branson, feeding his ego seems more important.

A detailed review of Virgin Galactic

Link here. The article not only provides a thorough review of the company’s most recent test flight and what it did and did not accomplish, it takes a look backward to reevaluate Virgin Galactic’s history, including the many engineering problems in the past few years that have slowed development and risked lives.

The most shocking aspect of this story is this fact:

The fact that VSS Unity was broken was never disclosed to Social Capital shareholders who approved the merger, or to investors who bought the stock after the merged companies went public under Virgin Galactic’s name on the New York Stock Exchange on Oct. 28, 2019.

The source who revealed the near-fatal February 2019 flight to Parabolic Arc questioned whether withholding that information from shareholders was legal under securities laws. A number of law firms have launched investigations into Virgin Galactic recently. Their primary focus seems to be the steep drop in the company’s stock price earlier this year. (It has rebounded sharply since the flight test.) But, perhaps they will carefully review the company’s public disclosures regarding the condition of VSS Unity.

In reviewing the building competition between Virgin Galactic and Blue Origin to fly the first commercial passengers, the article also confirms many of the same observations I have made about both companies.

Read it all. It shines light beyond the pr blather that you will get from most modern media as they rewrite press releases.

Virgin Galactic reveals issue with WhiteKnightTwo

Capitalism in space: On the same day that Virgin Galactic unveiled a $130 million loss in its first quarter report, it also announced that it might have to delay the next flight of its Unity suborbital spacecraft because of an undisclosed “wear-and-tear issue” on its carrier airplane.

From the second link:

[Mike Moses, president of space missions and safety], in response to later questions from analysts, did not disclose the specific component of the aircraft that was at the heart of the issue, but described it as a “family of items that relate to fatigue and long-term stress” of the airplane. It was not an issue with the number of flights of VMS Eve, which first flew in 2008 and has made fewer than 300 flights since.

Engineers are currently examining the plane to determine if additional maintenance is needed now to correct that problem, with an update expected next week. Virgin Galactic had planned to perform work on the plane this fall during a downtime that would also include work on VSS Unity, but Moses said engineers are now looking at whether some of that work needs to be moved up.

If maintenance is needed now, it would delay the schedule of flight tests for SpaceShipTwo, but Moses said it was “a little too early” to know how long that would be.

They had previously announced that the next flight would be in May. They will decide in the next week whether to delay it.

Meanwhile, the company’s stock price continues to tumble, dropping from a high of about $62 earlier this year to a low of about $14 today. And I would say that the price is still over-priced. The path to profit for Virgin Galactic has become extremely narrow, with few options and not much margin, especially with Blue Origin now only two months away from its first commercial suborbital tourist flight.

Richard Branson started Virgin Galactic shortly after the SpaceShipOne won the Ansari X-Prize in 2004, promising hundreds of commercial passenger flights per year in only a few years. Seventeen years later no such flights have ever occurred. Worse, not only will Blue Origin likely do the first commercial suborbital flight first, SpaceX and Axiom are likely to complete the first orbital tourism flights before Virgin Galactic.

No harm to Branson however. He has sold off most of his stock in the company, and did it when its price was still high.

Branson sells off more of his Virgin Galactic stock

He’s getting out while the getting is good: In the past three days Richard Branson sold another $150 million worth of his Virgin Galactic stock.

The stock price for these sales was about $27, more than twice the value when the company went public in November 2019.

Including his stock sales in May ’20, Branson has now sold about 30% of his share in the company, leaving him holding only about a 20% share. Essentially, Virgin Galactic is no longer his company.

Meanwhile, Virgin Galactic now says it will not begin tourist flights until ’22. Whether it can survive that long is another question. It certainly hasn’t delivered on any of Branson’s endless grandiose promises, beginning almost two decades ago in 2005.

Virgin Galactic delays its next suborbital flight again

Capitalism in space: Virgin Galactic announced yesterday that it is now delaying the next manned flight of its suborbital Unity spaceship in order to address what appear to be still unresolved technical problems that almost caused the last manned flight to crash.

In an earnings call Feb. 25 timed to the release of its fourth quarter and full year 2020 financial results, company executives blamed an aborted test flight of SpaceShipTwo Dec. 12 on electromagnetic interference (EMI) that caused a flight computer to reboot just as the vehicle ignited its hybrid rocket engine. The vehicle glided to a safe landing at Spaceport America in New Mexico.

Mike Moses, president of Virgin Galactic, said a new flight control computer system is the likely source of increased levels of EMI. The company took steps to shield components from that interference to avoid a similar reboot and prepared to make a powered test flight as soon as Feb. 13. But in the final days of preparations, technicians noted continued EMI issues with vehicle systems.

The flight they had hoped to do this month has now been pushed back to May. They have also announced that then devote the rest of this year doing more test flights and will hold off any tourist flights until ’22.

Michael Colglazier, chief executive of Virgin Galactic, said the company is sticking to the flight test program it announced last fall. The May flight will be followed by two more: one with two pilots and a “full cabin” of company employees to test the passenger cabin of the vehicle, followed by one with company founder Richard Branson on board. Colglazier said the company isn’t yet announcing specific dates for those flights, but expects both to take place this summer.

That will be followed by a flight for the Italian Air Force, confirming an agreement signed in October 2019. That flight will carry a set of research payloads and three Italian payload specialists, and generate revenue for the company. Colglazier said that flight would likely take place in late summer or early fall and generate revenue for the company, “and will conclude our product test program.”

The company also claims that its second SpaceShipTwo spacecraft will begin testing this summer.

We shall see. The track record of this company has been abysmal, and its been that way for almost two decades of non-achievement.

Virgin Galactic almost lost its 2nd SpaceShipTwo in 2019 flight

Capitalism in space: According to a book to be published in May, Virgin Galactic had serious previously unrevealed problems during its 2019 manned flight of VSS Unity, ist 2nd SpaceShipTwo suborbital spaceship, problems that could have killed all on board.

[W]hen the ground crew wheeled the suborbital spacecraft back into the hangar, company officials discovered that a seal running along a stabilizer on the wing designed to keep the space plane flying straight had come undone — a potentially serious safety hazard. “The structural integrity of the entire stabilizer was compromised,” Todd Ericson, a test pilot who also served as a vice president for safety and test, said, according to a soon-to-be-published book. “I don’t know how we didn’t lose the vehicle and kill three people.”

Much more at the link. It does appear that the company was not doing due diligence prior to the flight, signing off inspections without actually doing those inspections.

The issue caused the long delay since that flight. That it was kept secret as the company went public and offered its stock for sale likely breaks some SEC laws.

Virgin Galactic cancels its announced November suborbital flight

Capitalism in space: Virgin Galactic announced yesterday that it has canceled its announced November suborbital flight, claiming the cause were new COVID-19 guidelines imposed by the New Mexico Department of Health.

The flight had been scheduled for the November 19-23 time period. It had been announced with the typical hype that comes from Richard Branson.

Personally, I don’t believe Branson or Virgin Galactic as to the cause of this flight cancellation. I think they either never intended to fly, or have known for some time that new technical problems would prevent its launch as scheduled. I think they hyped the launch despite this, which conveniently pumped up the stock price at a time Branson was selling stock. They now announce the cancellation, the stock drops, but Branson has already pocketed his profits.

The timing of this announcement is also most ironic, as it occurred on the same day SpaceX docked four astronauts on ISS. Branson’s company began building its suborbital spacecraft in 2004, promising that it would soon fly hundreds, even thousands of private passengers into space. Sixteen years later it has never flown one passenger, and very few manned test flights. In the interim SpaceX built its Falcon 9 rocket and Dragon capsule, and is now launching passengers to orbit, with its first entirely private launch scheduled less than a year from now.

The comparison is quite stark. Why anyone would invest real money in this fake company at this point baffles me.

Spaceport America in New Mexico fires its head

The board of Spaceport America, Virgin Galactic’s launchsite for its SpaceShipTwo suborbital manned spacecraft, yesterday fired its long time Executive Directory Dan Hicks, at the same time governor of New Mexico removed one board member.

Hicks, the spaceport’s CEO since 2016, has been on administrative leave since June while allegations of mismanagement and abuse of authority have been under investigation by the New Mexico State Auditor and the New Mexico Spaceport Authority, the public body governing the spaceport.

The McHard Accounting Consulting firm, a forensic accounting firm based in Albuquerque, conducted an investigation which was then referred to the state auditor. Keyes informed a state legislative committee this summer the allegations included potential criminal activity.

Spaceport American had been made gigantic promises by Richard Branson back in the mid-2000s, including hundreds of tourist flights per year on SpaceShipTwo, all of which would bring lots of cash to the spaceport and to New Mexico. All came to naught. I suspect those failed promises are somehow connected to the accusations here.

First scientist chosen to fly on Virgin Galactic’s SpaceShipTwo

Planetary scientist Alan Stern, who is also the principal scientist on the New Horizons mission, has been chosen to be the first scientist to fly on Virgin Galactic’s suborbital SpaceShipTwo, should it ever begin commercial flights.

One SwRI experiment on the just announced flight will involve Stern operating a former space shuttle and NASA F-18 low light level camera to determine how well space astronomical observations can be conducted. In addition, Stern will be fitted with instrumentation that continuously monitors human vital signs from just before the two-hour flight until after its landing as a biomedical experiment. The results of both experiments will be published.

I hope it happens, but personally I have great doubts. We now have more than fifteen years of similar big announcements about what Virgin Galactic will do with its suborbital spaceship, with nothing to show for it. Right now I see these stories as mere fodder by people like Richard Branson to push up the stock’s price so he can make more money selling it as he eases his way out of the company.

Virgin Galactic again delays first commercial flight

Capitalism in space: Virgin Galactic, which has been repeatedly delaying its first commercial flight for more than a decade, has done so again, stating that it will not occur until 2021.

The company, in its fiscal second quarter financial results released Aug. 3, said it expected to perform two more test flights of SpaceShipTwo from Spaceport America in New Mexico, both of which will be powered flights. The vehicle has made two glide flights since moving to the spaceport early this year.

The first of those powered flights, scheduled for the fall, will have two pilots on board. It will also carry payloads for NASA’s Flight Opportunities program that arranges flights of experiments on suborbital vehicles, said George Whitesides, chief space officer and former chief executive of Virgin Galactic, in a company earnings call.

If that flight goes as expected, Virgin Galactic will then perform a second flight, this time with four mission specialists on board along with the two pilots. Those mission specialists “will evaluate the performance of our full customer cabin and associated hardware,” he said. The company unveiled the design of the cabin July 28, although Whitesides said they were still completing the installation of the cabin on the company’s current SpaceShipTwo vehicle, VSS Unity.

“Presuming things go as expected on this fully-crewed flight, we would then plan to fly Sir Richard Branson on the third powered flight from New Mexico,” he said. That flight would take place in the first quarter of 2021 and mark the beginning of commercial service, although Whitesides said it will also be a test flight of sorts. “Sir Richard is in a unique position to provide the ultimate cabin and spaceflight experience evaluation, as a visionary of the Virgin customer experience.”

The company also announced that it intends to sell stock shares to raise more capital. Right now the stock is selling for about $20.

I am no expert on the stock market, but to my mind this company’s chances of making big profits from suborbital flights is slim to none. They might make some money, but hardly enough ever to repay their investors. Virgin Galactic’s window for making big money in suborbital tourism closed forever with the success of SpaceX’s manned Dragon flight to ISS. The space tourism market is shifting to orbital space, something Virgin Galactic cannot provide. Worse, the cost for getting to orbit continues to drop, while this company can’t reduce its prices much.

Virgin Galactic provides a weak product in the present market, one that can only become weaker when compared to its competitors.

SpaceShipTwo Unity makes first New Mexico glide flight

Capitalism in space: Virgin Galactic’s Unity suborbital spaceship successfully completed its first glide test flight from its New Mexico launch site yesterday.

They still have not set a date for their first commercial flights, so the company still claims those first flights will occur this year. I will believe it when I see it.

There does appear to be one apparent positive development for Virgin Galactic. It increasingly appears as if Blue Origin is slowly abandoning its effort to compete for suborbital tourism with its New Shepard spacecraft. Blue Origin has not said so, but the extreme slow down in test flights the last two strongly implies it. Moreover, that company’s success in garnering big government contracts, a billion from the military for its orbital New Glenn rocket and about a half billion from NASA for its proposed Blue Moon manned lunar lander, reinforces the sense that the company is shifting its focus away from suborbital space.

If so, that will clear the market for Virgin Galactic, assuming a viable market still exists with the coming of private commercial orbital spaceships like Dragon and Starliner.

Virgin Galactic relocates SpaceShipTwo Unity to New Mexico

Capitalism in space: In what appears to be preparation for the final tests before beginning commercial flights, Virgin Galactic yesterday used its carrier airplane WhiteKnightTwo to transport SpaceShipTwo Unity to New Mexico.

The relocation of VSS Unity to Spaceport America enables the Company to engage in the final stages of its flight test program. This will begin with a number of initial captive carry and glide flights from the new operating base in New Mexico, allowing the spaceflight operations team to familiarize themselves with the airspace and ground control. Once these tests are complete, the team will carry out a number of rocket-powered test flights from Spaceport America to continue the evaluation of VSS Unity’s performance. During this phase, the final spaceship cabin and customer experience evaluations will also be concluded in preparation for the start of commercial spaceflight operations.

They are aiming for a July 18, 2020 first flight, carrying Richard Branson on his 70th birthday. Whether they can meet that date remains open. Based on the company’s track record, don’t bet on it.

Virgin Galactic stocks go public on October 28

Buyer beware: With the official completion of a merger of Virgin Galactic with the venture capital company Social Capital Hedosophia this week, it will be possible to buy stock in the company as early as Monday, October 28.

The space-tourism company run by billionaire Sir Richard Branson has been approved to merge with Social Capital Hedosophia, a venture capital firm that helps technology companies list on public markets, according to a Wednesday SEC filing from the company.

The merger is expected to close Friday. On Monday, Social Capital’s ticker, “IPOA,” will become Virgin Galactic’s, and trade under “SPCE.”

As I say, buyer beware. Virgin Galactic has spent fifteen years spending a lot of investment capital without achieving what it promised to do years ago, fly tourists on suborbital space flights. Along the way we’ve seen Richard Branson make a lot of exciting announcements about how he is about to fly in space, none of which ever happened. Instead, they crashed their spaceship, killing one pilot.

If you want to invest money in this company you should be aware of their so far poor track record.

Bezos comparing New Shepard to SpaceShipTwo: “No asterisks.”

Capitalism in space: During an event yesterday, Blue Origin’s owner Jeff Bezos made it a point to note the superior launch capabilities of Blue Origin’s suborbital New Shepard spacecraft over Virgin Galactic’s SpaceShipTwo.

Bezos, in the interview, pointed out the altitude difference between the two vehicles. New Shepard has typically exceeded 100 kilometers, an altitude known as the Karman Line, on its test flights. SpaceShipTwo reached a peak altitude of 82.7 kilometers on its most recent test flight Dec. 13, its first above the 50-mile boundary used by U.S. government agencies to award astronaut wings. “One of the issues that Virgin Galactic will have to address, eventually, is that they are not flying above the Karman Line, not yet,” Bezos said. “I think one of the things they will have to figure out how to get above the Karman Line.”

“We’ve always had as our mission that we wanted to fly above the Karman Line, because we didn’t want there to be any asterisks next to your name about whether you’re an astronaut or not,” he continued. “That’s something they’re going to have to address, in my opinion.”

For those who fly on New Shepard, he said, there’ll be “no asterisks.”

Bezos also indicated that he is increasingly hopeful that the first manned test flights of New Shepard will occur this year.

Virgin Galactic finally reaches space, by one definition

Capitalism in space: By one of the definitions of where space begins, Virgin Galactic’s second SpaceShipTwo Unity finally reached space for the first time during a test flight today.

During a flight test today, Virgin Galactic’s SpaceShipTwo burned its engine for 60 seconds and reached an altitude of 271,268 (51.37 miles/82.7 km), which put the vehicle into space for the first time according to one definition of the boundary.

Pilots C.J. Sturkow and Mark Stucky deployed the spacecraft’s feather system — twin tail booms that re-configure the ship for re-entry — after reaching a top speed of Mach 2.9. They glided the vehicle back to a safe landing on Runway 12-30 at the Mojave Air and Space Port in California’s High Desert.

The U.S military initially defined space as beginning at 50 miles altitude. Later the international definition defining space as beginning at 100 kilometers (about 62 miles) became more accepted. In recent years there has been a push to accept the U.S. military’s older definition (partly I think generated by Virgin Galactic itself). Truth is, the U.S. military’s definition actually makes more sense, since it is possible to orbit a satellite at 50 miles, for short periods.

The pressure to change however does suggest that Unity might not be capable of reaching 62 miles.

Regardless, this flight culminates fourteen years of effort at Richard Branson s company to produce a reusable suborbital spaceship that can fly in space. It appears they have finally done it. Whether it will be reliable enough to fly repeatedly, with commercial passengers, remains to be seen. Moreover, the commercial landscape has changed considerably during those fourteen years. Had they flown a decade ago, as Branson repeatedly predicted, they would have been the only game in town. That is no longer the case. They now have a competitor, Blue Origin with its suborbital New Shepard spaceship, and affordable commercial orbital flights are just around the corner.

Still, Virgin Galactic’s achievement here is significant. They have built a spaceship that has taken humans to space (and can do it again), and they have done it with private funds.

Virgin Galactic’s Unity successfully completes powered test flight

Capitalism in space: Virgin Galactic’s Unity spacecraft today successfully completed its third powered test flight, reaching an altitude of 170,800 feet, or about 32 miles.

Though this is a record flight for any of Virgin Galactic’s SpaceShipTwos, this elevation is still about half that reached by Blue Origin’s New Shepard suborbital capsule, and is considerably below the presently accepted international definition for space, which is 100 kilometers, or about 62 miles. It is getting close to the line accepted by the U.S. Air Force, 50 miles, and now being pushed by some as a better line for the beginnings of space.

Regardless, this success is good news for Virgin Galactic, as it indicates they might finally be getting close to commercial flights, after fourteen years of development.

First SpaceshipTwo powered flight since accident

Capitalism in space? Virgin Galactic today successfully completed the first powered test flight of VSS Unity, the first such test flight since the flight accident that destroyed the first SpaceShipTwo and killed on pilot in October 2014.

VSS Unity was dropped from its WhiteKnightTwo mothership from about 50,000 feet (15,000 meters) over the mountains about 20 miles (32 kilometers) north of the Mojave Air and Space Port in California. Pilots David Mackay and Mark “Forger” Stucky fired Unity’s hybrid engine for 30 seconds, boosting the vehicle to a top speed of Mach 1.87 and a maximum altitude of 84,271 feet (25,686 m) before gliding back to the runway at the spaceport, Virgin Galactic representatives said.

During the descent, the crew deployed SpaceShipTwo’s feather system, which reconfigures the ship into a high-drag shuttlecock by moving its twin tail booms. The feather will be used to soften the vehicle’s re-entry into the Earth’s atmosphere during spaceflight.

They say that they hope to begin commercial flights later this year, but I remain exceedingly skeptical.

VSS Unity completes 7th glide test

Capitalism in space: Virgin Galactic’s Unity suborbital spaceship completed 7th glide test today.

I must admit that I am only reporting this because I feel obligated to. This was their first flight in five months, and they have still not done a powered flight. I cannot get excited about Virgin Galactic and SpaceshipTwo until I actually see them reach space, something they have still not accomplished after fourteen years of development.

Virgin Galactic signs deal with Italy for dedicated research flight

Yawn. Virgin Galactic has announced that it has signed a deal with Italy for a future SpaceShipTwo research flight.

I feel obliged to report this, but am also very skeptical about it. They have still not performed any powered flights with their new ship, Unity. And their last glide test was four months ago. They state that they will have a full test flight program in 2018, but we have heard that story so many times before we’d all be silly to believe them now.

When they start flying, I will start taking them seriously again. Not before.

One Chute

Part 4 of Doug Messier’s series on commercial space history, A Niche in Time, is now available. It is entitled “One Chute” and focuses on the long and sad history of Virgin Galactic.

One new detail that Messier notes struck me:

At the time of the accident, Virgin Galactic had about 700 customers signed up to fly on SpaceShipTwo. Officials now say the number is around 650. Assuming full ships with six passengers aboard, Virgin Galactic would need 109 flights just to fly out its current manifest. The figure doesn’t include flight tests and missions filled with microgravity experiments. That’s a lot of launches to make without expecting at least one catastrophic failure, possibly involving prominent wealthy passengers.

It increasingly appears that this will be a total loss for the investors who poured money into Virgin Galactic.

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