Space tourism, Virgin Galactic wants to launch missions from Italy

Virgin Galactic Holdings is considering launching its space tourism missions from Italy, as part of efforts to recover from a flight suspension that contributed to a major fall in its shares. The Richard Branson-founded company is expected to sign an agreement on Thursday with the Italian Civil Aviation Authority to explore the use of the spaceport in Grottaglie, Puglia, the company told Bloomberg.

California-based Virgin Galactic flew customers to the edge of space and back from Spaceport America in New Mexico. A move to Europe would mark the company's first expansion of its space tourism business beyond the United States and the first such flight from Italy.

It is unclear when flights might start, although the agreement will trigger a feasibility study of about two years to examine the logistics of expansion in the country.

Mike Moses, who oversees Virgin Galactic's commercial spaceflight programme, told Bloomberg on Thursday that the company chose Italy because of its previous work with the nation and because it could open access to customers in Europe, the Middle East and beyond. He said a full spaceport operating frequent flights could generate revenue of "a few billion dollars a year".

"So expanding that, duplicating that engine in other locations only brings a great economic return," Moses said.