Virgin Galactic delays house tourism flights once more, till the second quarter of 2023

The aircraft carrier VMS Eve lifts off from Spaceport America in New Mexico, carrying the VSS Unity spacecraft on July 11, 2021.

Virgin galaxy

Space travel company Virgin galaxy on Thursday postponed the start of commercial flights for another three months, citing a delay in refurbishment work on the carrier’s aircraft carrier.

Virgin Galactic announced that commercial service is being pushed back to the second quarter of 2023, the latest setback for the launch of its space tourism business. Previously, the company pushed back the date from the fourth quarter of this year to the first quarter of next year.

Its shares fell more than 10% in after-hours trading from a close of $8.19 per share. Shares have fallen more than 70% in the past 12 months.

The company currently has an aircraft carrier, or “carrier”, called the VMS Eve, which is about 14 years old and undergoing a lengthy refurbishment. The jet-powered mothership plays a key role in Virgin Galactic’s flights by bringing the company’s spacecraft to an altitude of about 50,000 feet for launch.

Virgin Galactic reported an adjusted EBITDA loss for the second quarter of $93 million, wider than a loss of $77 million in the previous quarter. The company has $1.1 billion in cash. It also said it plans to sell up to $300 million in common stock, which the company says is aimed at adding “future financial flexibility.”

Leave a Comment