Key Points
- Blank Galactic shares soared after announcing that it would begin offering commercial space tourism services in late June.
- Galactic 01, the first spaceflight, is scheduled to launch between June 27 and on June 30.
- The announcement comes after years of delay.
Virgin Galactic (SPCE) soared on Friday after announcing it would begin offering commercial space tourism services in late June, after years of delay.
Galactic 01, the first spaceflight, 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 National Research Council of Italy to conduct research in microgravity.
“We launch the first line commercial space for Earth with two dynamic products: our scientific research and our private astronaut space missions,” Virgin Galactic CEO Michael Colglazier said in a statement.
The announcement comes after years of delays, partly due to refurbishment work on its carrier aircraft, as well as labor shortages and supply chain issues. For the quarter ended March 31, Virgin Galactic had a net loss of $159.4 million.
Stocks jumped higher by 30% on Friday morning after the news, and are up more than 56% since the start of the year, although still 35% less than the highs of the year last.
YCharts
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Source: investopedia.com
