- Shares in Virgin Galactic skyrocketed after it announced in late June that it would begin offering commercial space tourism services.
- Galactic 01, the first space flight, is scheduled to launch between June 27 and June 30.
- The announcement comes after years of delays.
Virgin Galactic (SPCE) Shares soared Friday after it announced it would begin offering commercial space tourism services in late June after years of delays.
Galactic 01, the first space flight, is scheduled to launch between June 27 and June 30. Galactic 02 will follow in early August, and the company plans to offer monthly commercial flights thereafter. The first flight will carry three members of the Italian Air Force and the Italian National Research Council, who will conduct microgravity research.
“We are launching the first commercial space shuttle to Earth with two dynamic products – our scientific research and private astronaut space missions,” Virgin Galactic CEO Michael Colglazier said in a release.
The announcement comes after years of delays, due in part to work to refurbish its carrier aircraft, as well as labor shortages and supply chain issues. For the quarter ended March 31, Virgin Galactic reported a net loss of $159.4 million.
Shares jumped more than 30% on the news Friday morning and are up more than 56% year-to-date, though still down 35% from last year’s highs.