Virgin Galactic and Boeing have announced a partnership in global transportation and travel technology. This partnership is the result of an evaluation to expand the commercial space. Therefore, Boeing will invest $ 20 million in Virgin Galactic.
"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 Richard Branson. “Virgin Galactic and Boeing share a vision of opening access to the world and space, to more people in safe and environmentally responsible ways.”
In July 2019, Virgin Galactic announced that it wanted to become a publicly listed entity through a merger with Social Capital Hedosophia. The Boeing investment will be in return for new shares in Virgin Galactic and is therefore contingent on the closing of that transaction, which is expected to close in the fourth quarter of 2019.
Boeing is already known to be a strategic partner of NASA, and is part of every US space program, that is, NASA's prime contractor for the International Space Station and is preparing the new, reusable, Starliner space capsule for launching the ISS.
“The unique expertise of our companies stretches from points all around the world to the deepest reaches of space,” added Boeing defence, space and security president and CEO Leanne Caret. “Together we will change how people travel on Earth, and among the stars, for generations to come.”