Virgin Galactic, founded by Richard Branson, is a British-American spaceflight company focused on providing suborbital spaceflights to space tourists and researchers. As the world's first commercial spaceline, it develops and operates its own reusable spaceflight systems, including the SpaceShipTwo and WhiteKnightTwo. While the company is shifting its focus to Delta class vehicles for commercial service in 2026, its current partners include Redwire for manufacturing research payload lockers and it operates from Spaceport America in New Mexico.
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Virgin Galactic worked with Aurora for several months to develop design specifications and workforce and resource requirements for the mothership program.
Final assembly of the motherships will be completed at Virgin Galactic’s facility in Mojave, California.
Virgin Galactic plans to build a fleet to support 400 flights per year at Spaceport America.
Virgin Galactic has signed an agreement with Aurora Flight Sciences, a Boeing company, to partner in the design and manufacturing of Virgin Galactic’s next generation motherships.
Virgin Galactic plans to work with tier-one aerospace manufacturers to produce the Delta-class suborbital vehicles with final assembly at a Virgin Galactic facility.
Virgin Galactic had previously planned to resume commercial suborbital flights before the end of 2022.
Virgin Galactic signed an agreement on 2022-07-06 with Boeing subsidiary Aurora Flight Sciences to build two new carrier aircraft for its next-generation suborbital spaceplanes.
Virgin Galactic had previously scheduled commercial flights to begin in the fourth quarter of 2022 and affirmed that schedule in February 2022 with its 2021 financial results.
Virgin Galactic’s target is to reach 1,000 customers once commercial service begins in early 2023.
Virgin Galactic postponed the start of commercial service of its SpaceShipTwo suborbital spaceplane from late 2022 to early 2023.
Virgin Galactic reported a net loss of $93,000,000 for the first quarter of 2022.
Virgin Galactic raised its ticket price to $450,000 in 2021 and did not plan an immediate additional price increase despite higher inflation rates.
Virgin Galactic’s existing engineering staff are working on Unity, Eve, and Imagine, the new suborbital spaceplane now slated to enter commercial service in mid-2023.
Virgin Galactic’s first quarter earnings release on 2022-05-05 stated the company expected to start commercial flights of its VSS Unity spaceplane in the first quarter of 2023 after completing upgrades of VSS Unity and VMS Eve.
Virgin Galactic had $1,220,000,000 of cash and equivalents on hand at the end of the quarter, bolstered by a debt offering in the first quarter that raised $425,000,000.
Virgin Galactic reported an adjusted EBITDA loss of $77,000,000 for the first quarter of 2022.
Barry Matsumori served as senior vice president of business development and advanced concepts at Virgin Galactic.
The state of New Mexico spent more than $200,000,000 on Spaceport America with Virgin Galactic as the anchor tenant.
Chief financial officer Doug Ahrens expects Virgin Galactic to achieve positive free cash flow by 2026.
Virgin Galactic postponed a mission for the Italian Air Force and scheduled maintenance on VSS Unity and VMS Eve to last until the third quarter of 2022.