/ CBS News

Virgin Galactic owner Richard Branson rocketed into space Sunday, an edge-of-the-seat sub-orbital test flight intended to demonstrate his companys air-launched spaceplane is ready for passengers who can afford the ultimate thrill ride.

And it appeared to do just that, zooming to an altitude just above 50 miles and giving Branson and his five crewmates about three minutes of weightlessness and spectacular views of Earth before plunging back into the atmosphere for a spiraling descent to touchdown at Virgins New Mexico launch site.

I have dreamt of this moment since I was a kid but honestly, nothing could prepare you for the view of Earth from space, Branson, 70, said after landing, at a rare loss for words. It was just magical. ... Im just taking it all in, its unreal.

The flight effectively upstaged Amazon founder Jeff Bezos, who plans a sub-orbital spaceflight of his own aboard Blue Origins New Shepard spacecraft on July 20 as the two companies compete for passengers in the emerging commercial space marketplace.

Bezos complimented Branson and his team after landing, posting a note to Instagram saying congratulations on the flight. Cant wait to join the club!

Bransons trip began in dramatic fashion as Virgins twin-fuselage carrier jet — with the VSS Unity rocket-powered spaceplane bolted under its wing — lifted away from the companys Spaceport America launch site near Truth or Consequences, New Mexico, at 8:40 a.m. local time (10:40 a.m. EDT).

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The Virgin Galactic carrier plane, carrying the VSS Unity spaceplane Unity, took off at Spaceport America, near Truth and Consequences, New Mexico, on July 11, 2021, with a crew of 6 including billionaire owner Richard Branson. PATRICK T. FALLON/AFP via Getty Images

Joining the globe-trotting billionaire aboard Unity were pilots David Mackay and Michael Masucci, along with Virgin astronaut trainer Beth Moses, flight engineer Colin Bennett and Sirisha Bandla, the companys vice president of government relations.

With a throng of reporters and a global audience following along on YouTube and across Virgins social media channels, the Virgin mothership VMS Eve slowly climbed to an altitude of about 45,000 feet and then, after a final round of safety checks, released Unity high above the New Mexico desert.

Seconds later, Mackay and Masucci, both veterans of earlier test flights to space, ignited Unitys hybrid rocket motor, slamming the crew back in their seats as the spacecraft shot forward and pitched up onto a near-vertical trajectory.

Burning rubberized solid propellant with liquid nitrous oxide, Unitys hybrid motor fired for about one minute, accelerating the craft to about three times the speed of sound before shutting down.

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Virgin Galactics VSS Unity spaceplane fires its rocket on the way to the edge of space on July 11, 2021. Virgin Galactic

The spaceplane continued zooming upward along a ballistic trajectory, giving Branson and company a chance to briefly unstrap, float about the cabin and marvel at the spectacular view as Unity reached its maximum altitude of 53.5 miles — three-and-a-half miles above what NASA and the FAA consider the boundary of space.

Live video from inside the spacecraft showed Branson and his crewmates floating free of their seats and enjoying the sensation of weightlessness, not to mention the out-of-this-world view.

To all you kids down there, I was once a child with a dream looking up to the stars, Branson said while his cremates cavorted in microgravity. Now Im an adult, in a spaceship with lots of other wonderful adults, looking down to our beautiful, beautiful Earth.

To the next generation of dreamers: If we can do this, just imagine what you can do! he said, before floating out of his seat. 

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Richard Branson, floading with his crewmates in the cabin of Virgin Galactics VSS Unity spaceplane. Virgin Galactic

A few moments later, the spacecraft then began the long plunge back to Earth.

Using an innovation pioneered by aircraft designer Burt Rutan, Unitys wing and tail fins are designed to pivot upward 60 degrees once out of the atmosphere, giving the spaceplane the aerodynamics of a badminton shuttlecock, ensuring a belly-down re-entry.

Mackay and Masucci rotated the wing upward shortly after the rocket motor shut down and left it in the feathered orientation until it descended to around 55,000 feet when it was pivoted back parallel to the fuselage, turning Unity into a glider.

From there, the pilots guided the spaceplane through a spiraling descent, lined up on Spaceport Americas 12,000-foot-long runway and settled to a picture-perfect landing, closing out a flight that lasted 59 minutes from takeoff to touchdown.

Mike Moses, Virgin president for space flight and safety, said an initial look at the data showed Unity came through its latest mission in great shape.

Weve looked at the data, weve done our quick engineering walk around (and) the ship looks pristine, no issues whatsoever, he said. Well take our time, do all the detailed inspections, and then well figure out when were ready to go again. But ship looked perfect.

NASA, the Federal Aviation Administration and the U.S. Space Force agree that space effectively begins at an altitude of 50 miles where the atmosphere is so thin that wings, rudders and other aerodynamic surfaces no longer have any effect.

As a result, Branson, Bennett and Bandla are now considered full-fledged Virgin astronauts, a distinction granted to Mackay, Masucci and Moses after earlier test flights.

Richard Branson speaks after space flight 06:29

Sundays launching marked Unitys 22nd test flight, its fourth trip to space, Virgins first with a six-person crew on board and the first for Branson, who beat Bezos into space by nine days.

Virgin Galactic and Bezos Blue Origin both plan to launch passengers on flights to the edge of space and back and both are in the final stages of test flights before beginning commercial operations.

Branson effectively blindsided Bezos, scheduling Sundays flight just ahead of the Amazon founders, which had already been announced. But Branson insisted again Sunday that he doesnt view the competition as a race for space.

Ive said this so many times, it really wasnt a race, Branson said. Were just delighted that everything went so fantastically well. We wish Jeff the absolute best and the people who are going up with him during his flight.

Virgin plans two more test flights, but company officials hope to begin launching paying customers, at $250,000 or more per seat, in early 2022. Flush with success Sunday, Branson announced a charity sweepstakes benefitting Space for Humanity, saying two winners will be selected to join one of the initial commercial flights.

Richard Branson and Jeff Bezos race to space 04:45

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