By
Godfrey Benjamin
May 25th, 2023
Virgin Galactic has highlighted that its narrative doesn’t end with the launch of the VSS Unity, but extends to the development of an even more sophisticated fleet, aptly named the Delta class.
Virgin Galactic Holdings (NYSE: SPCE) is on the verge of making history once again with the launch of its second commercial spaceflight that will carry its first cohort of private tourists into space.
Recent reports reveal that this momentous journey is scheduled to unfold later today. To share this remarkable experience with the world, Virgin Galactic plans to broadcast the flight through a live webcast. Starting at 11am New York time (Thursday, 8:30 pm IST), enthusiasts and curious onlookers alike will be able to witness this historic event unfold in real-time on the company’s official website.
The upcoming flight marks a pivotal transition for Virgin Galactic as it embarks on its maiden voyage into the realm of hosting paying customers. Preceding this groundbreaking event was the notable Galactic 01 research mission, which paved the way for the company’s innovative approach to private space travel.
However, this imminent launch is set to be the company’s inaugural foray into commercial space tourism, solidifying its position as a key player in the rapidly expanding field. The launch will take place from a cutting-edge spaceport in New Mexico, a testimony to the relentless efforts that have spanned over two decades of development.
This project underscores the profound commitment of Virgin Galactic’s founder, Sir Richard Branson, to create a platform that offers citizens the awe-inspiring experience of space travel, competing directly with Jeff Bezos’ Blue Origin.
This event is not merely a singular achievement but also symbolizes the beginning of addressing the backlog of approximately 800 eager ticket holders. Virgin Galactic’s dedication to fulfilling these dreams aligns with its mission to democratize access to space and make the cosmos a tangible reality for the masses.
Genesis of Virgin Galactic’s Historic Space Flight
The genesis of Virgin Galactic dates back to its establishment in 2004, with the company originally promising to commence passenger flights as early as 2007. Tickets were initially available at a price of $200,000 but were later increased to $250,000 trailing unforeseen delays in the development process.
Unfortunately, the firm experienced a big setback in 2014 when a Virgin Galactic spaceplane crashed during a test flight, killing one test pilot and severely injuring another. This terrible occurrence led Virgin Galactic to temporarily suspend ticket sales while the firm undertook extensive introspection and restructuring.
In 2018, a significant breakthrough was achieved as the company successfully reached space for the first time. Another notable milestone arrived in 2021 when Branson himself embarked on a voyage to space aboard a Virgin Galactic spacecraft.
Currently, Virgin Galactic anticipates a span of time before seeing substantial revenue streams. According to the company’s predictions, revenue will be about $1 million in each of the last two quarters of the year. However, if research flights are included in the calculation, these figures may rise slightly.
Virgin Galactic has highlighted that its narrative doesn’t end with the launch of the VSS Unity, but extends to the development of an even more sophisticated fleet, aptly named the Delta class. Expected to be operational around 2026, these advanced spacecraft represent a quantum leap in technology and capability.