Virgin Galactic Holdings Inc (NYSE:SPCE) shares surged after the company announced its decision to resume ticket sales for its space flights at a higher price of $750,000 per seat.
The reopening of sales for its “Virgin Galactic Spaceflight Expeditions” was welcomed by investors as a signal of underlying demand and a clearer path to future revenue, particularly as the company works toward restarting regular commercial operations.
Beyond ticket sales, the rally was also supported by updates on the development of Virgin Galactic’s next-generation SpaceShips. The company said assembly of its first new vehicle is nearly complete, with ground testing scheduled to begin in April 2026. Flight testing is expected later in the year, with commercial service targeted for the fourth quarter of 2026.
The company's CEO Michael Colglazier said the company has reached key milestones in early 2026, highlighting the progress on vehicle assembly and the upcoming testing phase. He added that a limited number of seats have been released at the new $750,000 price point, which is up from an earlier price of $600,000.
Virgin Galactic also said its second SpaceShip is expected to enter service between late 2026 and early 2027, as part of plans to increase flight frequency and expand capacity over time.
Virgin Galactic shares were up 16% at about $2.90 on Monday morning.