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Virgin Galactic lands on $450,000 as starting price for space tourism


Virgin Galactic Holdings Inc. stated Thursday it’s promoting seats on its space-tourism flights for $450,000 and up, and reported a “surge in client curiosity” following its preliminary suborbital flight.

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stated its “non-public astronaut market” can have three choices, with $450,000 the most cost effective possibility for a single seat. Virgin may even provide a multi-seat package deal for {couples}, associates or households, and a full-flight buyout, with the primary open seats going to its “important checklist of early hand-raisers,” and a follow-on precedence checklist for these excited about reserving seats in future spaceflights.

“As we endeavor to convey the marvel of house to a broad international inhabitants, we’re delighted to open the door to a wholly new trade and client expertise,” Chief Government Michael Colglazier stated in a press release.

In July, Virgin’s founder Richard Branson and five crewmates flew to suborbital space on the corporate’s VSS Unity rocket-powered spacecraft. Wall Avenue has estimated that house tourism will develop to a $8 billion market by 2030, with Virgin its “leader.”

The inventory jumped greater than 5% within the prolonged session Thursday regardless of a wider-than-expected quarterly loss for the house firm.

Virgin reported a second-quarter lack of $94 million, or 39 cents a share, in contrast with a lack of $72 million, or 34 cents a share, within the year-ago quarter. FactSet consensus referred to as for a lack of 33 cents a share for the quarter. It additionally reported income of $571,000, above consensus for income of $300,000.

Virgin’s subsequent spaceflight is focused for late September, the corporate stated. As beforehand disclosed, the flight will likely be a paid mission for the Italian Air Drive.

The corporate stated it ended the quarter with a “robust” money place, together with money and equivalents of $552 million on the finish of June.

Virgin stated it continues to expertise delays to its enterprise and operations resulting from COVID-19, and that it continues to function underneath strict well being protocols.

The inventory has gained about 35% up to now this yr, in contrast with beneficial properties of round 18% for the S&P 500 index
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