Branson not planning further investments in Virgin Galactic, FT reports

Richard Branson told the Financial Times that he doesn’t plan further investments in Virgin Galactic, the space tourism startup he founded, Philip Georgiadis and Peggy Hollinger report. Last month, Virgin Galactic said it would cut jobs and suspend commercial flights for 18 months from next year, though it said it has enough funding to carry it through to 2026. Asked whether he would consider putting more cash into the business if needed, Branson told the Financial Times: “We don’t have the deepest pockets after Covid, and Virgin Galactic has got $1B, or nearly. It should, I believe, have sufficient funds to do its job on its own.”