Billionaire Richard Branson spent more than $1 billion to go into space


British billionaire Richard Branson’s Virgin Galactic wants to take one tourist a day into space, while the space company seeks to capitalize on its founder’s successful test flight over the weekend. The goal is 400 flights a year, informed its Chief Executive, Michael Colglazier, in an interview with the Financial Times newspaper.

Michael Colglazier, who took over at Virgin Galactic a year ago, however, has not set a timetable for the company to scale up its business operations and admitted that it would face major obstacles to expanding in the near term.

“I think for a while this is going to be a very tight deal,” he said, adding:

— In each spaceport, we will reach around 400 flights a year. I’m expecting high single digit numbers to low two digit spaceship numbers [em cada local]in order to achieve numbers like that.

Branson’s company shares jumped a record 22% in the American pre-market after the billionaire’s flight into space. Virgin Galactic earns nearly $1 billion in market value.