But those funds will be running low, with not much revenue to replace it, by the time the oh-so-critical Delta enters service under the current timeline.Ĭolglazier has described Delta as "the economic engine" for Virgin Galactic, estimating revenue of over $2.7 million per flight. Yes, Virgin Galactic has nearly $900 million in cash and securities to continue to cover losses in the meantime. But it won't do much to dent the more than $100 million a quarter the company is losing in the meantime. That's leaps and bounds more than the company has generated since its founding in 2004.
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Flying without Moses or another company guide would free up an additional seat, but still leaves Virgin Galactic with anywhere from 150 to 200 Unity flights-worth of customers to strap in before it gets to those paying its higher rate of $450,000-plus-per-seat.Įven in an optimistic scenario where Virgin Galactic gets Unity to a monthly flight cadence with four passengers each by the end of this year, that's roughly 25 or so flights, or $25 million, by the time a Delta spacecraft enters service. Virgin Galactic has at most flown three passengers at a time, in addition to its chief astronaut trainer, Beth Moses, on its Unity test flights. Virgin Galactic sold about 600 tickets at $250,000 or less, representing the majority of its total reservations. Colglazier has emphasized that Virgin Galactic's resources are focused on developing its next-generation, "Delta" class spacecraft – yet those aren't expected to begin flying passengers until 2026. Its second spacecraft, VSS Imagine, was effectively sidelined late last year, so it's unclear when, or if, that will enter service. CEO Michael Colglazier believes it will take a couple flights before the company hits a monthly cadence with that vehicle. And once again, it's all about cadence.įor now Virgin Galactic has one spacecraft, VSS Unity. But thanks to Virgin Galactic's status as a public company, the money math is all out there in the open. For example, we still don't know for sure how much a private SpaceX trip to orbit goes for, and Elon Musk's company has completed three of those already. Space tourism is filled with mystique and wonder, and the relevant finances are no exception. It's about cadence – how quickly the company can safely ramp up the rate it launches commercial spaceflights. It's finally going to begin commercial flights, aspiring to fly its first ticketed passengers.īut the Virgin Galactic story is not about its first operational spaceflight, as long-awaited as that may be.
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