Virgin Galactic has achieved a major milestone in its quest to build a spaceline for Earth by launching its first private space tourists. The flight, which took off in New Mexico, is expected to reach the edge of space after about an hour. The passengers on board will then experience several minutes of weightlessness before returning to solid ground. This achievement marks the culmination of nearly two decades of development work for Virgin Galactic.
Among the passengers on this historic flight is 80-year-old Jon Goodwin, a British former Olympian who has Parkinson’s Disease. Joining him are Keisha Schahaff and Anastatia Mayers, a mother-daughter pair from the Caribbean who won their seats through a charity drawing. Accompanying them are two pilots and a Virgin Galactic support astronaut.
This successful flight will allow Virgin Galactic to start addressing the backlog of approximately 800 ticket holders who have been eagerly waiting for their chance to travel to space. The company faces competition from Jeff Bezos’ Blue Origin in the race to offer space trips to thrill-seekers looking to experience the weightlessness of space.
The launch of the first private space tourists is an important step for Virgin Galactic. The company’s shares rose following the news, indicating positive investor sentiment. However, the stock has experienced some fluctuations this year and has yet to reach the high levels seen in 2021. Virgin Galactic went public through a reverse merger with a special purpose acquisition company in 2019.
This flight comes shortly after Virgin Galactic initiated commercial spaceflight operations, starting with a research mission called Galactic 01. The research flight focused on scientific payloads that could take advantage of the microgravity environment in space. While there have been successes and setbacks for Virgin Galactic over the years, including a tragic test flight accident in 2014, the company has made significant strides. In 2018, it reached space for the first time and made headlines in 2021 when founder Richard Branson himself flew to space.
Virgin Galactic’s immediate focus is on VSS Unity, the primary vehicle being used for monthly space trips. However, the company is also working on developing a new fleet of space vehicles called the Delta class. These new ships, expected to be operational by 2026, will be optimized for easier refurbishment and faster turnarounds between flights, enabling a higher frequency of trips each year.
While Virgin Galactic is committed to fulfilling its customers’ dreams of space travel, it acknowledges that it will take a few more years before it turns a profit from its missions. The company projects modest revenue in the coming quarters and anticipates revenue to increase slightly if research flights are included.
Virgin Galactic CEO Michael Colglazier is confident that with the introduction of Delta class vehicles and weekly trips to the edge of space, the company will eventually achieve profitability. He recognizes that suborbital space tourism will remain a capacity-constrained business for some time but believes that as more private astronauts travel, it will become normalized and inspire more customers to sign up.
In conclusion, Virgin Galactic’s successful launch of its first private space tourists is a significant achievement for the company. It paves the way for the fulfillment of long-awaited ticket holders’ dreams, while also positioning Virgin Galactic to compete in the lucrative space tourism industry. With its ongoing developments and plans for a new fleet of vehicles, Virgin Galactic is set to make space travel more accessible and, ultimately, profitable.
