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Boeing Takes a $20 Million Liking to Virgin Galactic

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Virgin Galactic Test Flight

Virgin Galactic has already invested $1 billion of capital towards building reusable human spaceflight systems designed to enable more people to experience space. Boeing now wants a piece of the pie.

KEY POINTS

  • Sir Richard Branson’s space tourism company, Virgin Galactic, is in the final stretch of testing, with CEO George Whitesides saying the company “still feels good about going into operation next year.”
  • Virgin Galactic is planning to list on the New York Stock Exchange later this year, through a merger announced in July with Social Capital Hedosophia.
  • When Virgin Galactic does go public, Boeing’s venture arm, HorizonX, will take a $20 million minority stake in the company.
  • Boeing and Virgin Galactic will work together to broaden commercial space access and transform global travel technologies.
White Knight Two carrier aircraft, VMS Eve on tarmac at Spaceport America, Virgin Galactic's Gateway to Space
White Knight Two carrier aircraft, VMS Eve on the tarmac at Spaceport America. Credit: Virgin Galactic

In July, Virgin Galactic announced its intent to become a publicly-listed entity via a business combination with Social Capital Hedosophia Holdings Corp. Social Capital Hedosophia Holdings Corp. (“SCH”) is a partnership between the investment firms of Social Capital and Hedosophia.

Boeing has just announced its commitment to spend $20 Million dollars to acquire a minority stake in Virgin Galactic once it has listed. This investment from Boeing brings together two companies with extensive experience in the space industry.

Virgin Galactic is a pioneer of commercial human space flight and is the first and only company to have put humans into space in a vehicle built for commercial service, having built and flown a Mach 3 passenger vehicle. Through its manufacturing and development capabilities, Virgin Galactic can design, build, test, and operate a fleet of advanced aerospace vehicles.

Boeing has unsurpassed experience transporting people to orbit and building and operating large structures in that challenging environment. A part of every U.S. manned space program, Boeing serves as NASA’s prime contractor for the International Space Station (ISS) and is preparing the new, reusable, Starliner space capsule for launch to the ISS.

Virgin Galactic Space Ship Two
Virgin Galactic is a pioneer of commercial human space flight. Credit: Virgin Galactic

What Boeing says

“Boeing’s strategic investment facilitates our effort to drive the commercialization of space and broaden consumer access to safe, efficient, and environmentally responsible new forms of transportation,” said Brian Schettler, senior managing director of Boeing HorizonX Ventures. “Our work with Virgin Galactic, and others, will help unlock the future of space travel and high-speed mobility.”

What Sir Richard Branson says

“This is the beginning of an important collaboration for the future of air and space travel, which are the natural next steps for our human spaceflight program,” said Sir Richard Branson, founder of Virgin Galactic. “Virgin Galactic and Boeing share a vision of opening access to the world and space, to more people, in safe and environmentally responsible ways.”

What the Virgin Galactic CEO says

George Whitesides, CEO of Virgin Galactic, noted: “we are excited to partner with Boeing to develop something that can truly change how people move around the planet and connect with one another. As a Virgin company, our focus will be on a safe and unparalleled customer experience, with environmental responsibility to the fore.”

Boeing to invest in Virgin Galactic
Virgin Galactic’s VSS Unity soars into space. Credit: Virgin Galactic

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Gulfstream Delivers Final G550 Jet To Customer

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The final Gulfstream G550 business jet has been delivered to an international customer, marking an end of an era for the long-range commercial jet.
Gulfstream Makes Final G550 Commercial Delivery

After almost 20 years, Gulfstream has delivered its final G550 commercial jet to an international customer.

Entering service in 2003 as a long-range business jet, the G550 has a range of 6,750 nautical miles (12,501 kilometers) at Mach 0.80 and has broken over 55 speed records during its time of service.

Launched as a commercial jet that could be configured for business, government, or military and seat up to 19 passengers, the G550 is a versatile jet that enables owners to fly between international destinations such as Shanghai to Los Angeles, New York to Dubai, or London to Tokyo.

The Gulfstream G550 also launched the PlaneView™ flight deck platform for the first time and led the way with the certified Enhanced Vision System (now known as the Enhanced Flight Vision System – EFVS) as a standard safety feature for pilot safety.

“For nearly two decades, the G550 has been exceeding customer expectations,” said Mark Burns, president, Gulfstream. “The G550 set a new standard for performance and reliability and continues to outperform and impress with its wide-ranging capabilities. Given our vast G550 fleet in service, we look forward to continuing to support all G550 customers around the world with Gulfstream Customer Support’s extensive network.”

The final delivery, which took place at the end of June, brings the global fleet of Gulfstream G550’s in service to a total of 600 jets.

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Aerion Supersonic Jets To Close Operations

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Aerion Supersonic set to close operations after struggling to acquire further funding to produce its AS2 supersonic business jet.
Aerion AS2 supersonic private jet flying
Aerion Supersonic AS2 concept with a top speed of Mach 1.4 may never take to the skies. Credit: Aerion Supersonic

Aerion Supersonic is reportedly set to close operations after failing to secure the considerable capital required to produce its AS2 business jet at its future $300 million planned facilities at Aerion Park, Florida.

Founded in 2004 with backing from Texan billionaire Robert Bass, Aerion Supersonic started as a solution to the 2003 retired Concorde and gained backing and support from organizations like Boeing, Airbus, Lockheed Martin, and NASA’s Langley Research Center.

Yet despite raising $11.2 billion in pre-sales, Aerion has struggled to gain the capital needed to bring it to market.

Aerion Park Melbourne Florida
Proposed Aerion Park multi-purpose facility in Florida, USA. Credit: Aerion Supersonic

“The AS2 supersonic business jet program meets all market, technical, regulatory and sustainability requirements, and the market for a new supersonic segment of general aviation has been validated with $11.2 billion in sales backlog for the AS2,” reads the company statement, as stated by Florida Today.

“However, in the current financial environment, it has proven hugely challenging to close on the scheduled and necessary large new capital requirements to finalize the transition of the AS2 into production. Given these conditions, the Aerion Corporation is now taking the appropriate steps in consideration of this ongoing financial environment.”

The Aerion AS2 supersonic business jet
Aerion AS2 supersonic business jet. Credit: Aerion Supersonic

As reported by CNBC in early 2020, Aerion Supersonic revealed it would need around $4 billion to continue developing the AS2 after already spending $1 billion on engine development.

Initially, Aerion Supersonic had intended to launch the 1,000-miles-per-hour jet by 2024 and begin commercial activities by 2026, producing 300 AS2 jets during the first decade of production.

Unless 11th-hour funding is secured, the future of Aerion Supersonic is set to remain indefinitely grounded.

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Dassault Launches Falcon 10X With Largest Business Cabin Jet Yet

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Dassault Aviation’s new Falcon 10X Business Jet is a high-speed ultra-long-range jet capable of flying non-stop from New York to Shanghai.
Dassault Falcon 10X Side View
The new Dassault Falcon 10X. Credit: Dassault Aviation

Dassault Aviation’s Falcon 10X Business Jet is a high-speed ultra-long-range jet featuring the largest and most comfortable cabin on a business jet yet.

Said to “deliver a level of comfort, versatility, and technology not yet seen” in terms of cabin size and comfort, the Falcon 10X is looking to rival the likes of the Gulfstream G700 and Bombardier’s Global 7500 when it goes into production end of 2025.

Dassault Falcon 10X Living
Interior cabin configuration of the new Dassault Falcon 10X. Credit: Dassault Aviation

“The 10X will be more than just another big step forward in business aviation. It will be absolutely the best business jet available in the ultra-long-range category and will remain so for a long time,” shared Dassault Chairman and CEO Eric Trappier.

Dassault Falcon 10X Jet Dining
Entertaining spaces aboard the Falcon 10X. Credit: Dassault Falcon

As the first Dassault business jet to be powered by Rolls-Royce Pearl engines, the new Dassault Falcon 10X can achieve a top speed of Mach 0.925 and, with a nautical mile range of 7,500, will be able to fly nonstop from New York to Shanghai, Los Angeles to Sydney, Hong Kong to New York or even Paris to Santiago.

Dassault Falcon 10X Stateroom
Stateroom with queen bed aboard the Falcon 10X. Credit: Dassault Falcon

Created as a “penthouse suite in the sky,” the Dassault Falcon 10X will offer greater modularity than any other aircraft in its class and a selection of multiple interior configurations.

Dassault Falcon 10X Jet Stateroom
Dassault’s “penthouse in the sky”. Credit: Dassault Falcon

The 10X is large enough to accommodate four-cabin zones of equal length, but owners can configure their cabin as they desire to create a living space to best suit their needs, including an expanded dining/conference area, a dedicated entertainment area with a large-screen monitor, a private stateroom with a queen-size bed or an enlarged master suite with a private stand-up shower.

Dassault Falcon 10X Jet Bathroom
Private ensuite bathroom of the stateroom. Credit: Dassault Aviation

“Today we are introducing a new benchmark in business aviation,” said Dassault Chairman and CEO Eric Trappier. “The Falcon 10X will offer an unrivalled passenger experience over both short- and long-duration flights, along with breakthrough safety features from Dassault’s frontline fighter technology. We have optimized every aspect of the aircraft with the passenger in mind and established a new level of capability for ultra-long-range aircraft.”

Dassault Falcon 10X Jet Galley
Galley option for the Dassault Falcon 10X. Credit: Dassault Aviation

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