Later this month, Virgin Galactic Holdings Inc (NYSE:SPCE) is expecting its rocket to carry out its first zero-gravity flight in nearly two years, the final test before money-spinning commercial space tourism can begin.
Sir Richard Branson's company confirmed alongside its financial results that the final test flight for VSS Unity would be in around two and a half weeks and that it "remains on track targeting late June" for commercial flights - costing at least US$450,000 a pop and generating upwards of US$2.7mln per flight.
It made a net loss of US$159mln in the first quarter of 2023, up from US$93mln a year earlier, as net cash of US$136mln (US$66mln) was chewed up preparing for its next giant steps, such as with a recent glide test and a rocket-powered flight for its Unity suborbital spacecraft.
But it reassured that (unlike its sister company Virgin Orbit) its coffers remain well topped up, with cash and equivalents of US$874mln at the end of March 31.
The late June flight of Unity has been booked to carry out research for the Italian Air Force under a 2019 contract, with flights carrying private astronauts and research payloads expected to follow around once a month.
Virgin Galactic is also developing an upgrade on Unity, its 'Delta class' of six-seater craft, which it expects will help drive it towards profitability.