Virgin Galactic shares plunge as Branson rules out further funding

British billionaire alarms investors by stating space tourism company has enough cash to operate on its own'

Shares in the space tourism group Virgin Galactic tumbled on Monday after its founder, Sir Richard Branson, ruled out further funding.

The British billionaire alarmed investors by stating in an interview that the loss-making business has enough cash to operate on its own", weeks after it announced job cuts and a pause in commercial flights from next year in an effort to save cash.