Boeing has announced its intention to invest US$20 million in Richard Branson's space tourism company Virgin Galactic.

The companies hinted they may be working on projects together, but that further information would not be shared at this time.

Both companies are hoping to put humans in space within the next few months. When Virgin Galactic was founded in 2004, Branson expressed ambitions to launch its maiden flight in 2009, but complications have delayed the launch date significantly.

Last year, Virgin Galactic successfully sent two astronauts into outer space, recreating the feat in February 2019. It hopes to begin commercial flights soon and has sold 603 tickets to fly on its spacecraft.

Boeing, meanwhile, is working on its Starliner crewed capsule, developed under a contract with NASA. Once completed, the capsule is designed to transport astronauts to the International Space Station, ending NASA's reliance on Russian spacecraft to complete the trip.