Virgin Galactic Completes 11th Successful Spaceflight
Virgin Galactic Holdings, Inc. (NYSE: SPCE) completed its 11th spaceflight with all four seats aboard VSS Unity occupied by private astronauts. The successful 'Galactic 06' flight increases confidence in the repeatability of the product and the ability to deliver a superlative experience to customers. The Company's next mission is expected in the second quarter of 2024, including a researcher and private astronauts.
The successful completion of Virgin Galactic's 'Galactic 06' spaceflight represents a significant milestone for the company and the commercial spaceflight industry. This mission not only signifies the growing capabilities of Virgin Galactic's space tourism services but also demonstrates the potential scalability of their operations. The fact that this is the 11th mission and the first with a full complement of private astronauts aboard the VSS Unity underscores the transition from experimental flights to a more routine commercial operation.
The introduction of the next-generation Delta-class ships, with testing expected to start next year and commercial service planned for 2026, suggests a strategic expansion of capacity and enhanced customer experience. This could potentially lead to increased demand and revenue streams. However, the long lead time until the commencement of commercial service for these new ships may affect short-term investment sentiment as stakeholders weigh the costs of ongoing development against the future benefits of expanded operations.
Virgin Galactic's announcement of the successful flight is likely to have a positive impact on investor confidence, given the emphasis on the repeatability of their spaceflights and the implication of a maturing product. The company's ability to execute these missions with increasing regularity is a critical factor that investors monitor as it relates to the company's revenue-generating potential. It is important to note, however, that the commercial spaceflight industry is capital-intensive with high upfront costs. As such, the financial performance of Virgin Galactic should be evaluated on the basis of long-term growth potential rather than immediate profitability.
Investors should also consider the competitive landscape of the space tourism sector, as it could influence Virgin Galactic's market share and pricing power. The success of the 'Galactic 06' flight may contribute to strengthening the company's brand and market position, but it is crucial to monitor how competitors respond and how the market for space tourism evolves.
Virgin Galactic's achievement in launching a fully occupied VSS Unity spacecraft is a noteworthy development in the aerospace sector, particularly for suborbital space tourism. The technical details provided, such as the altitude at release, apogee and top speed, are indicative of the company's progress in refining their flight profile to ensure passenger safety and mission success. The Delta-class ships represent an evolution in their spacecraft design, which could lead to improved performance and reliability. This is crucial for establishing consumer trust and operational efficiency in the nascent space tourism industry.
However, the aerospace industry is subject to rigorous regulatory scrutiny, especially for passenger spaceflights. The successful and safe return of the VSS Unity adds to the track record Virgin Galactic needs to maintain regulatory compliance and public confidence. Future missions that include researchers alongside private astronauts may also enhance the company's profile by contributing to scientific research, potentially opening new revenue channels beyond tourism.
01/26/2024 - 01:41 PM
ORANGE COUNTY, Calif. --(BUSINESS WIRE)--
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic” or the “Company”) today announced the completion of its first spaceflight of 2024 and 11th mission to date. Today’s ‘Galactic 06’ flight marked the first time all four seats aboard VSS Unity were occupied by private astronauts.
Michael Colglazier, CEO of Virgin Galactic, said: “Today the incredible team at Virgin Galactic supported another successful mission and delivered an unforgettable experience for four new astronauts. The success of ‘Galactic 06’ and the Company’s other commercial spaceflights in recent months only increases our confidence in the repeatability of our product and our ability to deliver a superlative experience to our customers. With the production of our next-generation Delta-class ships underway, we look forward to expanding our flight capacity with testing expected to start next year and commercial service in 2026.”
Onboard ‘Galactic 06’ :
Astronaut 023 – Lina Borozdina, Ukraine and Nevada , U.S.
Astronaut 024 – Robie Vaughn, Texas , U.S.
Astronaut 025 – Franz Haider, Austria
Astronaut 026 – Neil Kornswiet, California , U.S.
Today’s launch was watched from the ground at Spaceport America by more than 150 guests alongside Virgin Galactic’s team.
VSS Unity was commanded by C.J. Sturckow with pilot Nicola Pecile. Michael Masucci commanded mothership VMS Eve joined by pilot Dan Alix.
‘Galactic 06’ Flight Facts
Take-off Time: 10:00 am MT
Altitude at Release: 44,493 ft
Apogee: 55.2 miles
Top Speed: Mach 2.98
Landing Time: 10:56 am MT
The Company’s next mission, expected in the second quarter of 2024, will include both a researcher and private astronauts. More information on that mission will be announced soon.
Press materials may be accessed via the Virgin Galactic Newsroom at https://press.virgingalactic.com
About Virgin Galactic
Virgin Galactic is an aerospace and space travel company, pioneering human spaceflight for private individuals and researchers with its advanced air and space vehicles. Scale and profitability are driven by next generation vehicles capable of bringing humans to space at an unprecedented frequency with an industry-leading cost structure. You can find more information at https://www.virgingalactic.com/ .
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our next commercial space mission and proposed timing thereof, repeatable access to space, our ability to deliver a superlative experience to our customers, and the schedule for test flights and commencement of commercial service of our Delta class spaceships are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to, any delay in future commercial flights of our spaceflight fleet, our ability to successfully develop and test our next generation vehicles, and the time and costs associated with doing so, our expected capital requirements and the availability of additional financing, and the other, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.virgingalactic.com , which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240126312857/en/
For media inquiries:
news@virgingalactic.com
Jeff Michael – Communications
news@virgingalactic.com
For investor inquiries:
vg-ir@virgingalactic.com
Source: Virgin Galactic Holdings, Inc.
What is the ticker symbol for Virgin Galactic Holdings, Inc.?
The ticker symbol for Virgin Galactic Holdings, Inc. is SPCE.
How many spaceflights has Virgin Galactic completed to date?
Virgin Galactic has completed 11 spaceflights to date.
Who were the astronauts on board 'Galactic 06'?
The astronauts on board 'Galactic 06' were Lina Borozdina, Robie Vaughn, Franz Haider, and Neil Kornswiet.
What was the altitude at release during 'Galactic 06'?
The altitude at release during 'Galactic 06' was 44,493 ft.
What is the top speed achieved during 'Galactic 06'?
The top speed achieved during 'Galactic 06' was Mach 2.98.
