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☆ Investing in Space: Virgin Galactic enters spaceflight hiatus after retiring Unity
  + stars: | 2024-06-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com   time to read: +3 min
Virgin Galactic founder Sir Richard Branson, far left, and CEO Michael Colglazier, far right, stand with the crew of the Galactic 07 mission. But Virgin Galactic needs a great suborbital spaceship. But it's a far cry from the forecast Virgin Galactic sold investors on – more than 3,000 "cumulative passengers flown" by 2023 – when it went public five years ago. But that leaves a hiatus before the first Delta spacecraft debuts, with the key target of a first commercial flight in 2026. As a reminder, human spacecraft development is often years delayed, and Virgin Galactic has in the past been no exception: Virgin Galactic was supposed to begin spaceflights in 2010, but didn't until 2018.
Persons: Sir Richard Branson, Michael Colglazier, CNBC's Michael Sheetz, Galactic's, Colglazier, That's, Virgin Organizations: Virgin Galactic, VSS Unity, Galactic, Unity, VSS Imagine, VSS Inspire, VSS, Delta
☆ 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
☆ Virgin Galactic CEO outlines remaining steps before commercial spaceflight service begins next year
  + stars: | 2022-11-03 | by ( Michael Sheetz | ) www.cnbc.com   time to read: +2 min
Virgin Galactic on Thursday reported a wider third-quarter loss from a year ago, with CEO Michael Colglazier outlining the remaining steps before the space tourism company aims to launch its long-delayed service next year. "As we approach commercial service, we recognize the significance of getting back to the business of spaceflight," Colglazier said on a conference call. Shares of Virgin Galactic are down 66% this year as of Thursday's close of $4.58. Virgin Galactic is emphasizing the potential of its "Delta-class" series of spacecraft, with work set to begin next year. "We are reassessing its schedule for entering commercial service," Colglazier said.
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