Blue Origin to open up space tourism ticket sales
May 5, 2021, 9:51 am

Blue Origin to open up space tourism ticket sales

FILE PHOTO: An interior view of the Blue Origin Crew Capsule mockup at the 33rd Space Symposium in Colorado Springs, Colorado, United States April 5, 2017. (File Photo: Reuters)

Blue Origin, billionaire Jeff Bezos’ rocket company, is poised to open up ticket sales on Wednesday for suborbital sightseeing trips on its New Shepard spacecraft, a landmark moment as US firms strive toward a new era of private commercial space travel.

Blue Origin is expected to announce details on how to purchase a seat, the timing of the first flight, and the cost for a ticket, which has been a carefully guarded secret inside Blue for years.

Reuters reported in 2018 that Blue was planning to charge passengers at least $200,000 for the ride, based on an appraisal of rival plans from billionaire Richard Branson’s Virgin Galactic Holdings Inc and other considerations, though its thinking may have changed.

Blue Origin teased last week that it would soon begin selling tickets, following years of testing and development work that has included delays.

Blue’s New Shepard rocket-and-capsule combo is designed to autonomously fly six passengers more than 62 miles (100 km) above Earth into suborbital space, high enough to experience a few minutes of weightlessness and see the curvature of the planet before the pressurized capsule returns to earth under parachutes.

The capsule features six observation windows Blue Origin says are nearly three times as tall as those on a Boeing Co 747 jetliner.

While celebrities and the uber-rich appear to be a core market for space tourist jaunts, at least initially, industry sources expect Blue to include some philanthropic component to its ticket strategy.

A college science professor and an aerospace data analyst are among a four-member crew for a launch into orbit planned later this year by Elon Musk’s SpaceX, part of a charity drive billed as the first all-civilian spaceflight in history.

Virgin Galactic also aims to fly private customers in early 2022, after a first flight with Branson on board later this year.

Its zero-gravity experience is anchored by its SpaceShipTwo plane, and the company has ambitious plans to offer point-to-point travel between far-flung cities at near-space altitudes.

Virgin says it will charge more than $250,000 for new reservations but has not announced final pricing. Sales will reopen following Branson’s flight.

In 2018, one Blue Origin employee with first-hand knowledge of the pricing plan said the company will start selling tickets in the range of about $200,000 to $300,000. A second employee said tickets would cost a minimum of $200,000.

Blue Origin’s announcement will provide Bezos, who founded Amazon.com Inc, sorely needed momentum after Blue Origin lost out to SpaceX on a $2.9 billion contract under NASA’s high-profile program to return Americans to the moon in coming years.

However, NASA has told SpaceX to halt development work specifically related to the moon program contract pending the outcome of protests by Blue and rival Dynetics at the US Government Accountability Office.

source: Reuters

Image source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.