published on October 8, 2019 - 1:08 PM
Written by Associated Press

(AP) — 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, 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.

Test flights will be conducted there before passenger flights begin.

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, so it is contingent on that transaction closing.


e-Newsletter Signup

Our weekly poll

Are you willing to travel for business again?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $69 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY