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☆ Virgin Galactic: Richard Branson won’t invest more money in the space tourism company he founded
▼ + stars: | 2023-12-04 | by ( Jackie Wattles | ) edition.cnn.com time to read: +3 min

CNN —Shares of Virgin Galactic, the space tourism venture founded by Richard Branson, are plunging after the British billionaire said he has no plans to invest more money in the company as he says it has “sufficient funds” already. ET market open on Monday, Virgin Galactic stock was down 16%, trading at less than $2 per share. Virgin Galactic has had a landmark year, flying its first customers to the edge of space after years of waiting. Branson had previously sold off a large chunk of his personal investment in Virgin Galactic, ditching about $1 billion worth of stock between 2020 and 2021. Branson added in his comments to the Financial Times that he remains excited about Virgin Galactic and noted the company has “really proved itself and the technology.”

Persons: Richard Branson, Branson, hasn’t, ”, Virgin Galactic’s, Michael Colglazier’s Organizations: CNN —, Virgin Galactic, Financial Times, — Virgin, Galactic, Times, Virgin, Virgin Group, Virgin Galactic’s, VSS Unity, VSS Locations: Virgin

☆ Virgin Galactic pausing flights next year and laying off 18% to focus on next-gen spacecraft
▼ + stars: | 2023-11-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Carrier aircraft VMS Eve releases spacecraft VSS Unity before firing its rocket engine during the Unity 25 spaceflight on May 25, 2023. Virgin Galactic plans to pause spaceflight operations next year to focus resources on developing its next-generation Delta-class spacecraft, the company announced Wednesday. Virgin Galactic laid off about 185 employees on Tuesday, or about 18% of its workforce, in order "to decrease its costs and strategically realign its resources." Virgin Galactic had cash and securities totaling $1.1 billion at the end of the quarter. The company has been spending heavily to expand its fleet beyond the current sole VSS Unity spacecraft.

Persons: Michael Colglazier Organizations: Carrier, VSS, Virgin Galactic, Virgin, LSEG, VSS Unity, Galactic, Delta Locations: Phoenix

☆ Virgin Galactic launches three paying customers to space
▼ + stars: | 2023-09-08 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

CNN —Virgin Galactic notched its third commercial spaceflight, launching three paying customers on a roughly 90-minute flight that briefly touched the edge of space. Also on board were two Virgin Galactic pilots, commander Nicola Pecile and Michael Masucci. Virgin Galactic stock has shed more than 30% of its value over the past month despite the company’s recent successes. On its first commercial launch, Virgin Galactic carried members of the Italian air force and an Italian engineer on a science research mission. All told, Virgin Galactic has sold about 800 tickets, including 600 at earlier price points up to $250,000 and, more recently, another couple hundred at $450,000 per ticket.

Persons: Virgin Galactic’s, Ken Baxter, Timothy Nash, Adrian Reynard, Nicola Pecile, Michael Masucci, Beth Moses, Virgin Galactic, Richard Branson, Michael Colglazier, Jeff Bezos, Jon Goodwin, Baxter, “ I’ve, Sir Richard, ”, Ken Baxter's Organizations: CNN, Virgin Galactic, Virgin, VSS Unity, America Locations: Vegas, British, South Africa, United Kingdom, New Mexico, Texas, Italian, Antigua

☆ Virgin Galactic's first space tourism passengers only spent a few minutes floating weightless above the Earth, and their experience still mirrored other astronauts' in three key ways
▼ + stars: | 2023-08-11 | by ( Maiya Focht | ) www.businessinsider.com time to read: +4 min

The three passengers onboard spent a few minutes floating weightless at the edge of space. These are the first commercial passengers to fly aboard Virgin Galactic's first private commercial spaceflight. Virgin Galactic's mothership Eve taking its first space tourists on a rocket ship ride to the edge of space. Jon Goodwin, one of Virgin Galactic's space tourists, recalled feeling this way as the VSS Unity began its return to Earth. Virgin Galactic Feeling like sharingKeisha Schahaff, Mayers' mother and one of Virgin Galactic's space passengers, said that flying had always been her dream.

Persons: Virgin Galactic's, Anastatia Mayers, Mayers, Yuri Gagarin, Andrés Leighton, Jon Goodwin, would've, Goodwin, Charlie Duke, Keisha Schahaff Organizations: Virgin Galactic, Service, Virgin, VSS, Washington Post, VSS Unity, Apollo, Post Locations: Wall, Silicon, Virgin

☆ Virgin Galactic's first space tourism passengers only spent a few minutes floating weightless above the Earth, and their experience still mirrored other astronauts' in 3 key ways
▼ + stars: | 2023-08-11 | by ( Maiya Focht | ) www.businessinsider.com time to read: +4 min

☆ Virgin Galactic launches tourists to edge of space
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: 1 min

VSS Unity rocket operated by Virgin Galactic lands after the company's first commercial flight to the edge of space, at the Spaceport America facility, in Truth or Consequences, New Mexico, U.S., June 29, 2023. REUTERS/Jose Luis Gonzalez/File PhotoWASHINGTON, Aug 10 (Reuters) - Virgin Galactic on Thursday blasted three tourists to the edge of space aboard its air-launched VSS Unity spaceplane, a live stream showed, the Richard Branson-founded company's second commercial mission as it starts routine flights. The rocket-powered VSS Unity craft dropped from the carrier plane over New Mexico around 9:20 a.m. local time and blasted its four passengers, a company instructor and three tourists, to an altitude of roughly 55 miles (88.51 km). Reporting by Joey Roulette; Editing by Mark Porter and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Jose Luis Gonzalez, Richard Branson, Joey Roulette, Mark Porter, Richard Chang Organizations: VSS Unity, Virgin Galactic, America, REUTERS, Galactic, VSS, Thomson Locations: New Mexico, U.S

☆ Virgin Galactic 02 launch live updates: Flight will take mother, daughter, Olympian to space
▼ + stars: | 2023-08-10 | by ( Morgan Mcfall-Johnsen | Marianne Guenot | ) www.businessinsider.com time to read: +1 min

The VSS Unity roars toward the edge of space in a file photo. Virgin Galactic's space plane, called the VSS Unity, is not powerful enough for that. Then it will drop the VSS Unity. The passengers will not fly above the Kármán line, which is sometimes considered the threshold of space at 62 miles above sea level. But the Federal Aviation Administration has previously recognized VSS Unity pilots as astronauts.

Organizations: Virgin, VSS, VSS Unity, Federal Aviation Administration

☆ How to watch Virgin Galactic's first space tourist launch 300,000 feet above the ground
▼ + stars: | 2023-08-10 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

Virgin Galactic plans to launch its first space tourist flight. Watch it here:Who are Virgin Galactic's first space tourists? These are the first commercial passengers to fly aboard Virgin Galactic's first private commercial spaceflight, due to take off Thursday. "The whole team just swarmed into my house saying 'You're the winner, you're going to space,'" Schahaff told the BBC. This is Virgin Galactic's second commercial flight and the first to carry paying customers.

Persons: Richard Branson's Virgin, Sir Richard, Jon Goodwin, Keisha Schahaff, Virgin Galactic's, Virgin Galactic Goodwin, Goodwin, Schahaff, Anastatia Mayers, Beth Moses, Richard Branson, Elon Musk, OceanGate Organizations: Virgin, Service, VSS Unity, Virgin Galactic, Sky News, BBC, University of Aberdeen, Italian Air Force, National Research Council of Italy, Galactic's, Galactic Locations: Wall, Silicon, Munich, nought, Antigua, London, Caribbean, Scotland, New Mexico

☆ Virgin Galactic launches first tourist flight to space
▼ + stars: | 2023-08-10 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Virgin Galactic flew its second commercial spaceflight on Thursday, its first carrying private-paying tourists. Virgin Galactic uses a two-step system known as "air launch" to fly its passengers on a suborbital spaceflight. "We did not, in fact" see any fallout from Virgin Galactic customers, Colglazier said. The company completed its first commercial spaceflight, the Galactic 01 mission, in June carrying members of the Italian Air Force. Virgin Galactic has a backlog of about 800 passengers.

Persons: – CJ Sturckow, Kelly Latimer –, Beth Moses, Jon Goodwin, Keisha Schahaff, Anastatia Mayers, Elon Musk's, Virgin Galactic's, Michael Colglazier, Colglazier Organizations: Virgin Galactic, America, Space, Humanity, Virgin, VSS, Elon, Elon Musk's SpaceX, Italian Air Force . Virgin Galactic Locations: New Mexico, Caribbean

☆ Virgin Galactic to launch first tourism mission after decades of promises
▼ + stars: | 2023-08-10 | by ( Jackie Wattles | Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —Virgin Galactic — the space tourism company founded by British billionaire Richard Branson — is finally prepared to launch its first space tourists to the edge of the cosmos, a major step toward delivering on decades of promises. Meet the crewThis mission comes on the heels of the success of Virgin Galactic’s first commercial mission, which launched in June. Goodwin was one of the earliest ticket holders on Virgin Galactic, which opened its first sales more than a decade ago. Virgin Galactic has sold about 800 tickets, including 600 at prices up to $250,000 and another couple hundred at $450,000 per ticket. In the lead-up to 2023, Virgin Galactic had been undergoing a lengthy “enhancement” process to upgrade its flight hardware.

Persons: Richard Branson —, Keisha Schahaff, Anastatia Mayers, Jon Goodwin, Goodwin, Virgin Galactic’s, Jeff Bezos, Galactic Schahaff, Mayers, “, ” Schahaff, Oliver Daemen, Bezos, don’t, ”, John McFall, What’s, Michael Colglazier, Virgin Galactic, Colglazier Organizations: CNN, Virgin Galactic, VSS Unity, Virgin, VSS, Galactic, Space, Humanity, University of Aberdeen, Blue, European Space Agency Locations: British, New Mexico, Antigua, American, Caribbean, Scotland

☆ A mother-daughter duo will join an 80-year-old Olympian on Virgin Galactic's first space tourism flight on Thursday. Here's how to watch live.
▼ + stars: | 2023-08-08 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

Virgin Galactic plans to launch its first space tourist flight on Thursday. These are the first commercial passengers to fly aboard Virgin Galactic's first private commercial spaceflight, due to take off Thursday. Keisha Schahaff won her tickets through a raffle while on a Virgin flight from Antigua to London in 2021. "The whole team just swarmed into my house saying 'You're the winner, you're going to space,'" Schahaff told the BBC. This is Virgin Galactic's second commercial flight and the first to carry paying customers.

Persons: Richard Branson's Virgin, Sir Richard, Jon Goodwin, Keisha Schahaff, Virgin Galactic's, Virgin Galactic Goodwin, Goodwin, Schahaff, Anastatia Mayers, Beth Moses, Richard Branson, Elon Musk, OceanGate Organizations: Virgin, Service, New Mexico's, Sky News, Virgin Galactic, BBC, University of Aberdeen, Italian Air Force, National Research Council of Italy, VSS Unity, Galactic's, Galactic Locations: Wall, Silicon, New, America, Munich, nought, Antigua, London, Caribbean, Scotland, New Mexico

☆ A Virgin Galactic passenger joked that he will have to wear diapers on Thursday's mission because the spaceship doesn't have toilets
▼ + stars: | 2023-08-08 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Jon Goodwin, an 80-year-old Olympian, joked about the conditions on his upcoming Virgin Galactic flight. Virgin Galactic said its first flight bringing paying tourists to space will take off Thursday. Jon Goodwin, an 80-year-old British Olympian, is due to be one of three private passengers on board Virgin Galactic's first-ever private commercial flight, which is expected to launch on Thursday. The interior of Virgin Galactic's spaceship, the VSS Unity, is quite sparse, according to photos shared by the company. Virgin Galactic's private commercial flight has been long awaited, with more than 800 people having purchased the firm's tickets.

Persons: Jon Goodwin, Virgin, Virgin Galactic's, Goodwin, Keisha Schahaff, Anastatia Mayers, it's Organizations: Virgin Galactic, Service, Virgin, Sky News, NASA, VSS, . Virgin Locations: Wall, Silicon

☆ Virgin Galactic banks $2 million in quarterly revenue after first commercial spaceflight
▼ + stars: | 2023-08-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Virgin Galactic flew two spaceflights during the second quarter: Its final test spaceflight and its first commercial spaceflight, the latter a long-awaited step to bring its service to market. It expects to fly its second commercial spaceflight on Aug. 10. Virgin Galactic stock slipped about 3% in after-hours trading from its close at $4.14 a share. Virgin Galactic had cash and securities totaling $980 million at the end of the quarter, up from about $874 million at the end of the first quarter. That increase came as Virgin Galactic brought in funds through "at the market" sales of common stock.

Persons: Michael Colglazier Organizations: Virgin Galactic, America, VSS Unity, Galactic Locations: New Mexico, U.S

☆ Meet the crew of Virgin Galactic’s first private passenger spaceflight
▼ + stars: | 2023-07-17 | by ( Ashley Strickland | ) edition.cnn.com time to read: +3 min

CNN —The first Olympian and the first mother-daughter duo to venture to space will be aboard Virgin Galactic’s inaugural private astronaut mission in August. Virgin Galactic and commercial spaceflightThe flight window opens for the mission, dubbed Galactic 02, on August 10, and the launch will stream live on Virgin Galactic’s website. The announcement comes on the heels of the successful launch and landing of Virgin Galactic’s first commercial spaceflight on June 29. The passengers boarded the VSS Unity, attached to a massive aircraft called VMS Eve, at Virgin Galactic’s spaceport in New Mexico. VMS Eve took off like an airplane, delivering VSS Unity to a designated altitude.

Persons: Keisha Schahaff, Anastatia Mayers, ” Schahaff, Jon Goodwin, Goodwin, Parkinson’s, ” Goodwin, don’t, Beth Moses, Moses Organizations: CNN, Virgin Galactic’s, Space, Humanity, . Virgin Galactic, University of Aberdeen, Virgin Galactic, Virgin, Italian Air Force, VSS, VSS Unity Locations: Caribbean, Antigua, Scotland, New Mexico

The flight marks a decisive moment for Virgin Galactic Holding Inc (SPCE.N), the space tourism venture founded by British billionaire Richard Branson in 2004, as it inaugurates commercial service following several years fraught with development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. A final crewed test flight to space was conducted with little fanfare five weeks ago. Virgin Galactic has said it has already booked a backlog of some 800 customers, charging from $250,000 to $450,000 per seat, and envisions eventually building a large enough fleet to accommodate 400 flights annually. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin Galactic, National Research Council, Italy, Virgin Galactic Holding Inc, Virgin, Elon Musk's SpaceX, Italian Air Force, VSS Unity, International Space, Air Force, America, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, Italy, British, Italian, Los Angeles

☆ Live updates: Virgin Galactic completes first commercial spaceflight
▼ + stars: | 2023-06-29 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

People react as the passenger rocket plane operated by Virgin Galactic takes off, during the company's first commercial flight to the edge of space, at the Spaceport America facility, in Truth or Consequences, New Mexico, U.S., June 29, 2023. Space tourism company Virgin Galactic , founded by Sir Richard Branson in 2004, completed its long-awaited first commercial spaceflight, called "Galactic 01," on Thursday. The three paying passengers are members of the Italian Air Force. Virgin Galactic's start to commercial service comes after years of delays and setbacks. Virgin Galactic has a backlog of about 800 passengers.

Persons: Sir Richard Branson, Virgin Galactic's Organizations: Virgin Galactic, America, Space, Italian Air Force, Virgin, VSS Unity Locations: New Mexico, U.S

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years of fraught by development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Joe, Branson, Burt Rutan, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham, Nick Zieminski Organizations: Virgin, REUTERS, Virgin Galactic, National Research Council, VSS Unity, America, Galactic, Virgin Galactic Holding Inc, . Virgin, Elon Musk's SpaceX, Italian Air Force, International Space, Air Force, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Los Angeles

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years fraught by development setbacks. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). A final crewed test flight to space was conducted with little fanfare five weeks ago. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

☆ Virgin Galactic launches first paying customers to the edge of space
▼ + stars: | 2023-06-29 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —Virgin Galactic, the venture founded by British billionaire Richard Branson, successfully launched its first paying customers to the edge of space — a milestone two decades in the making. (Future Virgin Galactic flights, however, are expected to include a range of high-profile customers.) Bennett’s role was to assess the comfort and function of the flight, using that information to inform future changes Virgin Galactic might make to its rocket-powered space plane, VSS Unity. Organizations such as NASA have routinely flown experiments on suborbital rockets, including Virgin Galactic and Blue Origin missions. In a tragic 2014 accident, Virgin Galactic’s space plane broke apart during flight, killing the mission’s copilot, Michael Alsbury.

Persons: Richard Branson, Virgin Galactic’s, Jeff Bezos’s, Walter Villadei, Angelo Landolfi, Colin Bennett, Pantaleone, Branson, Burt Rutan, Paul Allen, Hamish Harding, Michael Alsbury, — Organizations: CNN, Virgin Galactic, Italian Air Force, Virgin, SpaceX, Italy’s National Research Council, Branson, VSS, VSS Unity, NASA, International, National Research Council, Microsoft, Galactic, OceanGate, Scaled Composites, Origin, Congress, Federal Aviation Administration, FAA Locations: British, New Mexico, United States

The flight, dubbed Galactic 01, comes two years after Branson himself rode along with five other Virgin Galactic Holdings Inc (SPCE.N) personnel for the company's first fully crewed test spaceflight of its rocket plane, VSS Unity. Back then, Virgin Galactic officials said they expected to begin regular commercial operations in 2022 following additional test flights. Virgin Galactic had projected booking its first 1,000 paying customers, charging about $250,000 per seat, by the time commercial service opened. An earlier prototype of Virgin Galactic's rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another. Billionaire rival Jeff Bezos, whose astro-tourist venture Blue Origin has already flown several commercial passenger flights, has disparaged Virgin Galactic as falling short of a true spaceflight experience.

Persons: Richard Branson, Joe Skipper, Branson, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson's, Jeff Bezos, Virgin, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin, Unity, REUTERS, Virgin Galactic, National Research Council, Virgin Galactic Holdings Inc, VSS, Galactic, SpaceX, Origin, Italian Air Force, International Space, Air Force, . Air Force, America, Corporate, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Branson, Bezos, Los Angeles

☆ Virgin Galactic raises $300 million, seeks another $400 million to expand spacecraft fleet
▼ + stars: | 2023-06-22 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Carrier aircraft VMS Eve releases spacecraft VSS Unity before firing its rocket engine during the Unity 25 spaceflight on May 25, 2023. Virgin Galactic has successfully raised $300 million via an "at the market" offering of common stock, the company disclosed in a securities filing Thursday. Shares of Virgin Galactic have rallied since the company announced plans to launch its first commercial spaceflight by the end of this month. Virgin Galactic had cash and securities totaling $874 million at the end of the first quarter, it reported in May. The company has a single carrier aircraft, VMS Eve, and one spacecraft, VSS Unity, which it has said can conduct flights as frequently as once a month.

Organizations: Carrier, VSS, Virgin Galactic, Galactic, VSS Unity, Delta

☆ OceanGate Expeditions' Titanic tourism is a thing, and it's dangerous
▼ + stars: | 2023-06-21 | by ( Samantha Delouya | ) edition.cnn.com time to read: +9 min

But for those willing to shell out, tourism and research company OceanGate Expeditions offered eight-day missions that allow customers to explore the Titanic more than 13,000 feet below the ocean’s surface using five-seat carbon fiber and titanium underwater vessels. OceanGate launched successful expeditions to the Titanic wreckage in 2021 and 2022. Geoffrey Kent, the founder of luxury travel company Abercrombie & Kent, has recently planned trips for clients including race car driving on ice in Finland and orangutan trekking in Borneo. OceanGate CEO Stockton Rush has also repeatedly claimed that existing submersible regulations needlessly prioritize passenger safety over commercial innovation. But it also hasn’t innovated or grown—because they have all these regulations,” Rush said in an interview that appeared in a June 2019 issue of Smithsonian Magazine.

Persons: –, ”, Nick D’Annunzio, TARA, OceanGate, Stockton Rush, Andrea Doria, Bill Sikes, Rush, Knight Frank, “, Gideon Kimbrell, Everest’s, Richard Branson, Jeff Bezos, Geoffrey Kent, Sal Mercogliano, hasn’t, It’s, ” Rush, David Pogue, don’t, “ Don’t, ” It’s, D’Annunzio, Ann Epting, Epting, Brad Lendon, Parija Kavilanz Organizations: CNN, OceanGate Expeditions, US Coast Guard, Expeditions, Stockton Rush, Rescuers, OceanGate Foundation, Virgin Galactic, Virgin, VSS Unity, Origin, Elon Musk’s SpaceX, Abercrombie, Kent, Campbell University, Smithsonian Magazine, CBS, Federal Aviation Administration, SpaceX, FAA, Kent’s, Abercrombie & Kent Locations: Everett , Washington, Boston, Stockton, Finland, Borneo, North Carolina, Oman

☆ Virgin Galactic plans first commercial space service for June; shares take off
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - Virgin Galactic Holdings (SPCE.N), the space tourism firm founded by Richard Branson, said on Thursday its long-awaited commercial spaceflight service would launch later this month, sending its shares up over 55% in trading after the bell. The first spaceflight, called "Galactic 01", is planned between June 27 and June 30, the company said. Shares of Virgin Galactic had lost over two-thirds of their value last year due to delays in the company's launch of commercial service. But in February, it said it had completed a lengthy upgrade period for its centerpiece tourist spacecraft, clearing the path for its first commercial spaceflight. The first commercial mission will carry three crew members from the Italian Air Force and the National Research Council of Italy to conduct microgravity research, Virgin Galactic said.

Persons: Richard Branson, Chavi Mehta, Pooja Desai, Krishna Chandra Organizations: Virgin Galactic Holdings, Virgin Galactic, VSS Unity, Italian Air Force, National Research Council, Thomson Locations: Italy, Bengaluru

☆ Virgin Galactic to launch commercial space tourism service with late June flight
▼ + stars: | 2023-06-15 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Spacecraft VSS Unity fires its engine during the Unity 25 spaceflight, May 25, 2023. Virgin Galactic aims to launch its commercial space tourism service in late June. Virgin Galactic then plans for its second commercial flight to follow in "early August," with "monthly" commercial flights after that. The June launch will also begin moving Virgin Galactic toward showing it can fly commercial flights regularly, which is crucial to its long-term success. "We are launching the first commercial spaceline for Earth with two dynamic products — our scientific research and private astronaut space missions," Virgin Galactic CEO Michael Colglazier said in a statement.

Persons: Virgin Galactic's, Richard Branson, Michael Colglazier Organizations: VSS Unity, Virgin Galactic, Italian Air Force, VSS, Virgin

☆ Investing in Space: Virgin Galactic still has a big hurdle to clear for commercial service
▼ + stars: | 2023-06-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

After Virgin Galactic last week flew its final developmental spaceflight, which it crowned successful, it'd be easy to think the space tourism company is at a turning point. But the Virgin Galactic story is not about its first operational spaceflight, as long-awaited as that may be. Virgin Galactic sold about 600 tickets at $250,000 or less, representing the majority of its total reservations. Yes, Virgin Galactic has nearly $900 million in cash and securities to continue to cover losses in the meantime. Colglazier has described Delta as "the economic engine" for Virgin Galactic, estimating revenue of over $2.7 million per flight.

Persons: CNBC's Michael Sheetz, it's, It's, Elon, Michael Colglazier, Colglazier, Beth Moses, Moses, Delta, he's, bode, Galactic's, Shepard Organizations: Virgin Galactic, SpaceX, Elon Musk's, VSS Unity, VSS, Virgin Locations: that's, Virgin, Everest

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