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☆ 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.

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☆ Virgin Galactic completes Unity 25 spaceflight in key final test before commercial service
▼ + stars: | 2023-05-25 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

Virgin Galactic did not publicly livestream the flight unlike the previous one that carried founder Sir Richard Branson in July 2021. ET, carrying the company's VSS Unity spacecraft up to an altitude of about 40,000 feet. Virgin Galactic previously said it aims to fly its first commercial mission in "late June," assuming a successful test flight on Thursday. Virgin GalacticUnity 25 represents a crucial moment in the history of Virgin Galactic, which has suffered repeated setbacks and years of delays in developing its spaceflight system. Virgin Galactic has yet to generate meaningful revenue, and needs to be flying spaceflights regularly in order to do so.

☆ Virgin Galactic launches high-stakes flight carrying passengers to the edge of space
▼ + stars: | 2023-05-25 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

The space plane is designed to then detach from the mothership, fire its rocket engine and swoop straight up with its two pilots at the controls. Virgin Galactic confirmed just before 12:30 p.m. The space plane then coasted back to a landing back at New Mexico’s Spaceport America. The SpaceShipOne technology was parlayed into a larger space plane design, called SpaceShipTwo, which Virgin Galactic still flies today. Virgin Orbit, a sister company to Virgin Galactic that is focused on launching satellites to space on a small rocket, filed for bankruptcy in April.

☆ Virgin Galactic targets May 25 for first spaceflight since Richard Branson's trip
▼ + stars: | 2023-05-17 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Virgin Galactic is targeting as early as May 25 for the launch of its next spaceflight, which marks both its first in nearly two years since flying founder Sir Richard Branson and its planned last step before beginning commercial service. Called Unity 25, the mission represents the company's fifth spaceflight to date, launching out of Spaceport America in New Mexico. It is a "final assessment" flight, with six Virgin Galactic employees onboard for a short trip to the edge of space. In-house pilots Mike Masucci and CJ Sturckow will fly spacecraft VSS Unity, while Jameel Janjua and Nicola Pecile will fly carrier aircraft VMS Eve. Depending on the outcome and data gathered from Unity 25, the company aims to fly its first commercial mission in "late June."

☆ Virgin Galactic quarterly loss widens while company preps for spaceflight return
▼ + stars: | 2023-05-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Virgin Galactic is aiming to fly its first spaceflight in nearly two years later this month, but the company's first quarter loss widened dramatically as it funds its fleet growth. Virgin Galactic cited "increases in research and development expenses," in a press release. It paused launches for a lengthy refurbishment period of its vehicles, with Virgin Galactic aiming to fly its first commercial mission in "late June." The space tourism company reported an adjusted EBITDA loss of $140 million, compared with a $77 million loss in the same period a year ago. Shares of Virgin Galactic stock slipped more than 1% in after-hours trading, from its close at $4.09 a share.

☆ Virgin Galactic set for first spaceflight since Richard Branson's trip two years ago
▼ + stars: | 2023-05-08 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

The flight, slated for late May, will carry two pilots and a crew of four Virgin Galactic employees, the company announced Monday. If all goes well, Virgin Galactic expects to begin commercial services out of its spaceport in New Mexico in late June. At the time Virgin Galactic went public in 2019, it had also been touting plans to start commercial service in 2020. They include two pilots — CJ Sturckow and Mike Masucci — as well as four Virgin Galactic employees who will ride in the passenger cabin. Virgin Orbit, a sister company to Virgin Galactic that is focused on launching satellites to space on a small rocket, filed for bankruptcy in April.

☆ Billionaire Richard Branson defends space travel, argues it can benefit planet
▼ + stars: | 2023-05-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

Richard Branson on board Virgin Galactic's VSS Unity in July 2021. The billionaire believes the environmental costs of space travel are set to "come down even further." British billionaire Richard Branson believes space travel can be beneficial for the planet, arguing that trips like the one he undertook in 2021 open doors and cut red tape. During his interview with the BBC, Branson described space travel as being "incredibly important" for the Earth and made the case for it to continue. "Communication between people is being transformed because of space travel and satellites up there," he said.

☆ Virgin Galactic finishes lengthy spacecraft upgrades, plans Q2 commercial service
▼ + stars: | 2023-02-28 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

REUTERS/Joe SkipperWASHINGTON, Feb 28 (Reuters) - Virgin Galactic Holdings Inc (SPCE.N) has completed a lengthy upgrade period for its centerpiece tourist spacecraft, with commercial service on track to begin in the second quarter of 2023, the company said on Tuesday. This month, VSS Unity's twin-fuselage carrier plane VMS Eve made its first flight since 2021. Virgin Galactic is targeting monthly commercial missions after the Italian Air Force flight, a long-awaited cadence to handle the company's some 800 customers in line to fly. The company in February re-opened ticket sales to the public for spacecraft flights, setting prices at $450,000 per person with an initial deposit of $150,000. Each flight in space, over 50 miles (80 km) above ground, lasts roughly 10 minutes in microgravity, with VSS Unity launching mid-air from the center of its VMS Eve carrier plane.

☆ Virgin Galactic completes lengthy upgrade process ahead of resuming spaceflights
▼ + stars: | 2023-02-28 | by ( Michael Sheetz | ) www.cnbc.com time to read: +2 min

An aerial view of carrier aircraft VMS Eve, left, and spacecraft VSS Unity, at Spaceport America in New Mexico on Feb. 27, 2023. Virgin Galactic said on Tuesday it remains on track to resume spaceflights in the coming months after completing upgrades to its carrier aircraft and spacecraft. During that period Virgin Galactic conducted a variety of repairs and enhancements to its jet-powered mothership, called VMS Eve. Then Virgin Galactic will conduct glide tests, where VMS Eve carries the spacecraft and releases it, before a test spaceflight with a full company crew onboard. Shares of Virgin Galactic are up about 65% this year as of Tuesday's close of $5.74 per share.

☆ Richard Branson's Virgin Orbit gets green light for first orbital space launch from UK — and will use a repurposed Boeing 747 for the mission
▼ + stars: | 2022-12-21 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Richard Branson's Virgin Orbit gained a license for the first orbital space launch from the UK. The Civil Aviation Authority (CAA), the UK's space regulator, announced in a statement on Wednesday that Virgin Orbit was permitted to launch from Spaceport Cornwall in southern England. Issuing the final license to Virgin Orbit for the UK's first orbital satellite launch was another "major milestone," the CAA said in the statement. Virgin Orbit didn't respond to Insider's request for comment about the new launch date. Virgin Orbit has named the mission "Start Me Up" after a song by The Rolling Stones.

☆ 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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