This has been reported in news.sky.com dated 19 February 2016.
It crashed over California's Mojave Desert and the accident was attributed to the co-pilot unlocking a braking system too early.
Therefore, the project's new SpaceShipTwo will now be unveiled by Sir Richard Branson - it is a six-passenger space plane and it will take thrill-seekers and commercial customers on five-minute hops into suborbital space, reaching altitudes of about 100-Km.
Incidentally, despite the setback Virgin Galactic is going ahead with plans to build its own space launchers, including the new passenger vehicle and LauncherOne rockets that will be designed to lift small satellites. These activities are expected to commence from next year.
Apart from Branson, there are others who are working on sending paying passengers into space. They are SpaceX and Tesla founder Elon Musk, Amazon's Jeff Bezos and Microsoft co-founder Paul Allen.
Sir Richard Branson wants to, ultimately, build a hotel in space.
Image courtesy wikimediacommons.org
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