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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Virgin Galactic
Europe

Space tourism era dawns as Richard Branson’s Virgin Galactic greenlights first commercial flight

By
Susan Montoya Bryan
Susan Montoya Bryan
and
The Associated Press
The Associated Press
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By
Susan Montoya Bryan
Susan Montoya Bryan
and
The Associated Press
The Associated Press
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June 16, 2023, 4:32 AM ET
British billionaire Richard Branson is seen on a fragment of a Virgin Galactic Unity 22 Spaceflight Livestream Youtube video displayed on a smartphone
Virgin Galactic said the first commercial flights will begin in early August, with monthly flights following that.Pavlo Gonchar—SOPA Images/LightRocket/Getty Images
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Virgin Galactic announced Thursday that monthly commercial flights to the edge of space will begin for ticket-holders in August, following a research flight planned for the end of June.

The space tourism company will be taking up a team of specialists with the Italian Air Force and the National Research Centre of Italy to conduct microgravity research. The window for that research flight will begin June 27 and span the next three days, with timing depending on the weather.

After that, those who have been waiting more than a decade for their ride aboard Virgin Galactic’s rocket-powered space plane are expected to get their chance. The company said the first of those flights will begin in early August, with monthly flights following that.

“This next exciting chapter for Virgin Galactic has been driven by innovation, determination and a commitment to delivering an unparalleled and truly transformative customer experience,” CEO Michael Colglazier said in a statement.

Virgin Galactic has been working for years to send paying passengers on short space trips and in 2021 finally won the federal government’s approval. The company completed its final test fight in May.

After reaching an altitude of nearly 50,000 feet (15,000 meters), Virgin Galactic’s space plane is released from a carrier aircraft and drops for a moment before igniting its rocket motor. The plane shuts off once it reaches space, providing passengers with silence, weightlessness and an aerial view of Earth. The rocket ship then glides back to the runway at Spaceport America in the New Mexico desert.

Virgin Galactic has sold about 800 tickets over the past decade, with the initial batch going for $200,000 each. Tickets now cost $450,000 per person.

The company said early fliers have already received their seat assignments.

The highest profile test flight came in July 2021 when Virgin Galactic founder Richard Branson beat fellow billionaire and Amazon founder Jeff Bezos and rocket company Blue Origin into space. Bezos ended up flying nine days later from West Texas, and Blue Origin has since launched several passenger trips.

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