Billionaire Richard Branson’s space travel unit Virgin Galactic Holdings will preserve running as a critical infrastructure enterprise, even as many U.S. states in which it operates have mandated enterprise closures throughout the coronavirus outbreak.
The corporate, which intends to offer the first business space flight later this year with Branson on board, added that an overwhelming majority of its workforce is working from home.
“We’re an aerospace manufacturer with defense and government contracts and due to this fact categorized as a Vital Infrastructure business,” an organization spokeswoman said.
Virgin Galactic’s internet losses widened to $73 million in the fourth quarter from $46 million in the year-ago interval, it reported in its first financial outcomes as a publicly traded firm in February.
Blue Origin, founded by Amazon.com Chief Executive Jeff Bezos, is also racing to be the first to supply suborbital flights to fare-paying thrill-seekers.
Virgin Galactic went public after merging in October with Social Capital Hedosophia, the special acquisition automobile run by the early Facebook government and enterprise capitalist Chamath Palihapitiya.
Individually, Branson is seeking 500 million pounds ($619.36 million) from the British authorities to bail out his Virgin Atlantic airline through the virus pandemic.