Two companies in the aerospace industry are joining together to launch tourists into space and check them into orbiting space habitats.

The Boeing Company successfully completed the second parachute drop test for its Crew Space Transportation (CST) spacecraft Wednesday, part of its effort to develop commercial crew transportation capabilities that could ferry U.S. astronauts to and from low-Earth orbit (LEO) and the International Space Station.

Budget cuts will likely force NASA's reliance on Russia to ferry astronauts to and from the International Space Station for the foreseeable future, NASA’s head of space operations said Thursday.

Bigelow Aerospace announced on Wednesday that it has laid off half its staff because of the delays in developing space taxis.

HOUSTON, April 18, 2011 /PRNewswire/ -- Boeing (NYSE: BA) has been selected for the second round of NASA's Commercial Crew Development (CCDev) program.