Virgin Galactic is as soon as once more suspending house tourism flights till the second half of 2023. quarter

Aircraft VMS Eve 2021 July 11 departs from spaceport America in New Mexico carrying the space shuttle VSS Unity.

Virgin Galactic

Space tourism company Virgin Galactic On Thursday, it delayed the start of commercial flights for another three months, citing delays in upgrading its carrier.

Virgin Galactic has announced that commercial services are being pushed back to the second half of 2023. quarter, the latest drop for its space tourism business debut. The company had previously moved the date from the fourth quarter of this year to the first quarter of next year.

Its shares fell more than 10 percent in after-hours trading from $8.19 a share. Shares are down more than 70% in the past 12 months.

The company currently has one carrier aircraft or “mother ship” called VMS Eve, which is approximately 14 years old and long-term repairs are underway. The jet-powered mothership plays a key role in Virgin Galactic flights, launching the company’s spacecraft to an altitude of about 50,000 feet.

Virgin Galactic reported second-quarter adjusted earnings of $93 million. USD EBITDA loss of more than 77 million USD loss last quarter. The company has $1.1 billion in cash. She also said that she plans to sell up to 300 million.

Leave a Comment