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 has sold approximately 750 seats, including 150 tickets sold after the company reopened ticket sales last August and, as of 2022-02-15, to the general public at $450,000 per seat.
Virgin Galactic plans to begin flight tests of VSS Imagine later 2022 with a goal of beginning revenue flights in the first quarter of 2023 initially carrying research payloads.
Virgin Galactic is shifting its manufacturing approach for the Delta-class vehicles to work with tier-one aerospace companies to build major subassemblies with final integration at a new facility to be ready by the end of 2023.
Virgin Galactic reported an adjusted EBITDA of –$244,800,000 for 2021.
Virgin Galactic’s stock closed down nearly 7% at $7.82 per share on 2022-02-22, near a 52-week low.
Virgin Galactic restarted ticket sales in August 2021 to customers who paid a $1,000 deposit to join its One Small Step program.
Virgin Galactic plans to start operations sometime in 2023 with an initial flight cadence on the order of three flights per month.
Virgin Galactic restarted ticket sales to the general public on 2022-02-16 at a price of $450,000 per ticket.
Shares in Virgin Galactic fell during their first week of trading but rebounded around the time the company held an opening bell ceremony at Nasdaq headquarters on 2022-01-07.
Fifteen people who flew on Blue Origin’s New Shepard, SpaceX’s Crew Dragon, and Virgin Galactic’s SpaceShipTwo and who had not previously earned FAA wings will receive FAA commercial astronaut wings under the 2021-12-10 decision.
Blue Origin, SpaceX, and Virgin Galactic are not planning any additional crewed flights in the final three weeks of 2021.
Blue Origin, SpaceX, and Virgin Galactic have each developed their own wings or related insignia that they award to those who have flown in space.
Virgin Galactic’s commercial flights will not begin until at least late 2022 after an extended maintenance period of its vehicles per the company schedule provided in a 2021-11-08 earnings call.
More than 60,000 people contacted Virgin Galactic expressing interest in buying tickets after the company’s July flight that included founder Richard Branson.
Virgin Galactic expects to create more than 1,000 new jobs related to Delta Class development and associated activities.
Virgin Galactic planned to wrap up its initial round of sales efforts by the end of 2021 and to reach out in the first quarter of 2022 to the larger audience that expressed interest after July’s flight.
Virgin Galactic sold about 100 tickets at $450,000 each after it reopened ticket sales in August.
Virgin Galactic projects negative free cash flow of $85,000,000 to $95,000,000 in the fourth quarter because of upgrade work on VMS Eve and VSS Unity as well as Delta Class and new mothership work.
Virgin Galactic will postpone a SpaceShipTwo suborbital spaceflight that had been scheduled for 2021-10 to begin an extended maintenance period for the spaceplane and its carrier aircraft.
On 2021-10-14, Virgin Galactic decided to move directly into a planned maintenance period after a lab test of materials used on the vehicles flagged a possible reduction in the strength margins of certain materials used to modify specific joints.