‘Wings like cracked eggshells’: Richard Branson faces turbulence over safety of space flights

Photograph: Virgin Galactic/APPhotograph: Virgin Galactic/APhopes history will be made later this year with the launch of Virgin Galactic’s first commercial flights to the edge of space, with tickets costing about $450,000 each.

Branson initially hoped that he would send 50,000 astronauts into space by 2019, but the project has been beset by mishaps, delays and disaster. A pilot was killed and another suffered injuries when Virgin Galactic’s first SpaceShipTwo shuttle, VSS Enterprise,The company’s active vehicles – the carrier aircraft VMS Eve and VSS Unity, the second SpaceShipTwo – have not flown sincein July 2021, while the share price has fallen from more than $55 at its peak to around $5.

Some investors are now pursing legal action against Virgin Galactic after the string of delays, claiming alleged defects in the craft were not properly disclosed. They allege Eve and Unity were prototypes and were not designed for regular space travel, and say their claims are supported by internal corporate documents.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The 60/40 portfolio is back as investors eye stocks, bondsA survey of 2000 Australian investors found 87 per cent of respondents intended to deploy more capital in a range of assets, despite economists warning of global recession.
Source: FinancialReview - 🏆 2. / 90 Read more »

S&P 500 earnings revisions point to a hard landing: GoldmanGoldman’s top US equity strategist David Kostin has a contrarian view on earnings, and has identified 46 stocks that investors should consider holding.
Source: FinancialReview - 🏆 2. / 90 Read more »