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    Virgin Galactic Cleared By FAA

    Entrepreneur Richard Branson waves a model of the LauncherOne cargo spacecraft from a window of an actual size model of SpaceShipTwo on display, after Virgin Galactic's LauncherOne announcement and news conference, at the Farnborough Airshow 2012 in southern England July 11, 2012.  REUTERS/Luke MacGregor  (BRITAIN - Tags: TRANSPORT BUSINESS) - RTR34TQZ

    Luke MacGregor/Reuters

    Don’t bet against Richard Branson. The eccentric billionaire’s commercial space flight company, Virgin Galactic, has received clearance from the Federal Aviation Administration to begin planning space flights. The flights will leave from Spaceport in New Mexico, which was built for commercial space flight trips, and the FAA will handle local air traffic control in clearing the necessary airspace for the space flights. Virgin Galactic is planning to offer flights for the general public by the end of 2014, and has accepted over $70 million in deposits from 580 people, which is more people than have ever gone to space.

    Read it at CNN