Hello,

We noticed you're browsing in private or incognito mode.

To continue reading this article, please exit incognito mode or log in.

Not an Insider? Subscribe now for unlimited access to online articles.

A View from Stephen Cass

Virgin Galactic Gets Cash Infusion

Investors buy almost a third of the space tourism company.

  • July 28, 2009

Richard Branson’s Virgin Galactic, which hopes to fly paying passengers into space on suborbital trajectories, signed an agreement yesterday at the Oshkosh (WI) air show with the Abu Dhabi-based Aabar Investments group, swapping 32 percent of the company for $280 million. At the same show, attendees got to see a flight of WhiteKnightTwo, which will provide an aerial platform for launching the passenger-carrying SpaceShipTwo above the atmosphere. Virgin Galactic would like to see the WhiteKnightTwo used to launch small payloads into orbit, in a similar fashion to the way in which Orbital Sciences’ Pegasus launcher operates. The money from Aabar will go toward developing Virgin Galactic’s orbital capability, and it’s hoped the first satellite launches can take place in three years.

More from Business Impact

How technology advances are changing the economy and providing new opportunities in many industries.

Want more award-winning journalism? Subscribe to Insider Basic.
  • Insider Basic {! insider.prices.basic !}*

    {! insider.display.menuOptionsLabel !}

    Six issues of our award winning print magazine, unlimited online access plus The Download with the top tech stories delivered daily to your inbox.

    See details+

    What's Included

    Unlimited 24/7 access to MIT Technology Review’s website

    The Download: our daily newsletter of what's important in technology and innovation

    Bimonthly print magazine (6 issues per year)

/3
You've read of three free articles this month. for unlimited online access. You've read of three free articles this month. for unlimited online access. This is your last free article this month. for unlimited online access. You've read all your free articles this month. for unlimited online access. You've read of three free articles this month. for more, or for unlimited online access. for two more free articles, or for unlimited online access.