Virgin Galactic Commercial Spaceflight Plans for June Announced; Shares Soar

"Galactic 02" will follow in early August, with monthly spaceflights expected thereafter.

By Reuters | Updated: 16 June 2023 11:16 IST

Virgin Galactic Commercial Spaceflight Plans for June Announced; Shares Soar

Photo Credit: Reuters

Virgin Galactic had suspended flights of the spaceplane VSS Unity and its carrier plane in 2021

Highlights

Virgin Galactic shares had lost over two-thirds of their value last year
The first commercial mission will carry three crew members
In February the firm had completed a lengthy upgrade to its crafts

Virgin Galactic, the space tourism firm founded by Richard Branson, said on Thursday its long-awaited commercial spaceflight service would launch later this month, sending its shares up over 55 percent in trading after the bell.

The first spaceflight, called "Galactic 01", is planned between June 27 and June 30, the company said.

"Galactic 02" will follow in early August, with monthly spaceflights expected thereafter, the company said.

ISRO Decided Not to Rush Its Gaganyaan Project, Says Chairman S Somanath

Shares of Virgin Galactic had lost over two-thirds of their value last year due to delays in the company's launch of commercial service. Shares were up at $6.30 (roughly Rs. 500) in aftermarket trading on Thursday.

The company had suspended flights of the spaceplane VSS Unity and its carrier plane in 2021 to make various spacecraft enhancements, delaying its debut customer mission to the edge of space.

But in February, it said it had completed a lengthy upgrade period for its centrepiece tourist spacecraft, clearing the path for its first commercial spaceflight. Shares of the company have risen about 16 percent so far in 2023.

Space Travel Messes With the Human Brain, Reveals New NASA-Funded Study

The first commercial mission will carry three crew members from the Italian Air Force and the National Research Council of Italy to conduct microgravity research, Virgin Galactic said.

© Thomson Reuters 2023

Elon Musk’s Neuralink Valued at $5 Billion Based on Private Stock Trades

The Motorola Edge 40 recently made its debut in the country as the successor to the Edge 30 that was launched last year. Should you buy this phone instead of the Nothing Phone 1 or the Realme Pro+? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.