Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

How to buy a ticket aboard a Virgin Galactic flight for $450,000 a pop

Published

on

Virgin Galactic plans to soar past the Covid troubles burdening the aviation industry with an audacious financial plan

Sir Richard Branson has a plan to repair Virgin Atlantic’s money woes. The airline is exploring a possible listing on the London stock market. It has also reopened ticket sales for upcoming space flights.

The starting price for a seat aboard a Virgin Galactic flight on the ‘SpaceShipTwo’ costs a whopping $450 thousand dollars, far from the “modest premium” that CEO Michael Colglazier recently described.

The news of reopening ticket sales came alongside the release of the company’s quarterly financial report. The report revealed a net loss of over $94 million. The company has been in the red every quarter since going public in 2019.

What does a flight aboard SpaceShipTwo cost?

The company will offer three booking options; single-seat reservations, multi-seat reservations and an option to buy out all six seats on a given flight.

Colglazier also said that the company will offer seats for “research and professional astronaut training” priced at $600,000 each.

The total experience runs for approximately an hour; including a mere few minutes of weightlessness and views of earth in what the US government considers to be space.

Who can buy a Virgin Galactic flight?

Virgin Atlantic will offer the tickets to a list of “early hand raisers” before opening the spots to the public. The list in question is the “Spacefarer Community”, which has a $1000 deposit joining fee. The group has about 1000 members who have paid the deposit.

The company will also raffle off two seats to people who donated to Space For Humanity; a nonprofit working towards democratising space.

However, any new buyers will need to wait for their turn behind a pretty long list of people waiting for their chance to go to space. Almost 600 people already purchased a ticket for between $200,000 and $250,000 nearly a decade ago.


The news follows the Virgin Galactic completing its first fully crewed flight to the edge of space last month.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Markets surge as Fed hints at July cut

Fed’s Waller hints at July rate cut, boosting investor sentiment; Trump imposes 50% tariff on Brazil, provoking minimal market response.

Published

on

Fed’s Waller hints at July rate cut, boosting investor sentiment; Trump imposes 50% tariff on Brazil, provoking minimal market response.


Fed Governor Christopher Waller, tipped as a possible next Chair, signalled a July rate cut is on the table, calling current policy “too tight.” That’s been enough to supercharge investor sentiment.

Meanwhile, Trump has slapped a surprise 50% tariff on Brazil, sparking political tension. Brazil’s President responded with tough talk on “sovereignty,” but markets barely blinked, the Brazilian real dropped just 1%.

#StockMarket #FederalReserve #Bitcoin #AUD #TrumpTariffs #TickerNews

Continue Reading

Money

Trump’s copper tariff shakes global markets

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

Published

on

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.


President Donald Trump has unveiled plans to impose a 50% tariff on copper imports, a move set to rattle global supply chains and redraw the industrial map.

The tariff will hit within weeks, with Chile, the world’s largest copper exporter, expected to bear the brunt.

While Australia’s direct copper trade with the US is limited, analysts say the real message is strategic: the US is reinforcing its domestic manufacturing power.

#CopperTariff #DonaldTrump #TradeWar #GlobalMarkets #TickerNews

Continue Reading

Money

RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

Published

on

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.

Continue Reading

Trending Now