Virgin Galactic Aims to Expand Space Tourism in Italy

Virgin Galactic Holdings Inc. is actively exploring the potential to conduct space tourism flights from Italy. The company will begin discussions on Thursday with the Italian Civil Aviation Authority to assess the feasibility of using the Grottaglie Spaceport in the Puglia region for future missions.

Founded by entrepreneur Richard Branson, the aerospace and space company has undergone a flight suspension process that negatively affected its stock value. Virgin Galactic aims to recover and grow its space tourism initiatives by potentially expanding operations into this European country.

Currently, Virgin Galactic conducts suborbital flights from Spaceport America in New Mexico, successfully transporting passengers to the edge of space. The proposed expansion into Italy would represent the company's first step into the European market and the inaugural space tourism flights from the country.

A timeline for when these flights might commence has yet to be established. The agreement with Italian authorities will kick off a detailed two-year feasibility study to assess the practical aspects of establishing operations in Italy.

Mike Moses, responsible for Virgin Galactic's commercial spaceflight operations, expressed optimism about the potential benefits of a spaceport in Italy. In a statement to Bloomberg on Thursday, Moses highlighted Italy's strategic location, which could serve a diverse clientele from Europe, the Middle East, and beyond. He predicted that a fully operational spaceport could potentially generate nearly $1 billion in annual revenue.