Next Spaceflight Due for 'Late May', with 1st Commercial Flight in June

Virgin Galactic announced the results of the first quarter of the year, giving some investors good news in the form of a healthy launch schedule and relatively secure position.

Like always, the endeavor remains a money-burner, with a net loss of $159 million, up from a $93 million net loss in the same span last year. That is somewhat mitigated by where that money was spent, however, as Virgin notes that the increase was "primarily driven by investments related to the development of the future fleet and enhancements for the current fleet." 

Good news on the horizon: Commercial service for the 2nd quarter of 2023 is looking solid, with VSS Unity's successful glide flight validating the raft of enhancements made to both that craft and the VMS Eve. The company plans for a VSS Unity launch in late May that will send up company personnel to "conduct a final evaluation of the customer experience". Should they give their seal of approval, Virgin Galactic plans to send up its first commercial flight in the coming months.

“We are excited to return to space with the 'Unity 25' mission planned for the end of May, and we are actively readying for commercial service to begin in late June," said CEO Mochael Colglazier. "Concurrently, we are making steady progress on the development of our Delta Class spaceships, the driver of revenue growth and profitability in the business. Our strong cash position, combined with focused cost discipline and strategic investments in our growth initiatives, will enable our business to scale over the long-term.”

FMI: www.virgingalactic.com