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.
All verified mentions of this organization in source documents.
Virgin Galactic is producing its fourth-generation Delta Class spaceships, which are expected to enter commercial service in 2026.
Virgin Galactic plans to assemble Delta-class vehicles at a new facility in Mesa, Arizona, where the company will perform final assembly and ground tests.
Virgin Galactic will retire VSS Unity by the middle of 2024 to conserve about $1,000,000,000 in cash to complete work on the Delta class of vehicles.
Virgin Galactic’s decision to end SpaceShipTwo flights creates a hiatus in commercial service that will last until at least 2026.
Virgin Galactic projects $450,000,000 in annual revenue at a 125-flights-per-year cadence assuming an average ticket price of $600,000, the company’s current list price.
Virgin Galactic selected Aurora Flight Sciences, a subsidiary of Boeing, to develop its new mothership in 2022.
Boeing sued Virgin Galactic in March alleging that Virgin Galactic had not paid $26,400,000 in invoices and had misappropriated intellectual property related to the mothership contract.
Virgin Galactic has a backlog of more than 700 customers who signed on years earlier at lower ticket prices.
Virgin Galactic's share price declined gradually since last June, when the company reached a 52-week high of about $6 per share shortly before the first commercial flight of its VSS Unity suborbital spaceplane.
Virgin Galactic shares closed 2024-04-18 at $0.97 and earlier in the day traded at $0.90, a 52-week low.
Virgin Galactic will retire VSS Unity by mid-2024 to devote resources to production of its next-generation Delta-class vehicle.
One proposal in Virgin Galactic's proxy statement will ask shareholders to approve amendments to the company's certificate of incorporation to perform a reverse stock split between 1-for-2 and 1-for-20.
Virgin Galactic seeks a declaratory judgment that it did not misappropriate Boeing’s trade secrets and seeks damages at minimum equal to the difference between the $45,600,000 Virgin Galactic paid Boeing under the contract and the substantially lower actual value of the work performed.
Virgin Galactic’s countersuit states that Boeing provided only 348 of the required 580 artifacts during the preliminary design review.
Boeing’s Virginia suit alleges that Virgin Galactic refused to pay more than $25,000,000 in invoices related to the mothership project and misappropriated trade secrets.
The dispute concerns a project announced in 2022 to develop a new mothership aircraft to replace Virgin Galactic’s existing VMS Eve as an air-launch platform for its suborbital spaceplanes.
Virgin Galactic’s countersuit states that the second integrated baseline review provided less than half of the required deliverables and failed to include organization charts, a program execution plan, and a risk management process.
Boeing’s suit states that work on the mothership project ended in 2023 after Aurora Flight Sciences concluded the aircraft could not be built on the timeline or budget desired by Virgin Galactic.
Virgin Galactic plans for the Delta-class suborbital spaceplane to begin test flights in 2025 and enter commercial service in 2026.
Boeing and Aurora allege that Virgin Galactic refused to pay more than $25,000,000 for work on a new mothership aircraft and misappropriated trade secrets.