SPCE - Virgin Galactic Can Breathe a Sigh of Relief as Elon Musk's Space Tourism Business Stumbles
2024-06-16 07:07:00 ET
It's official now. Virgin Galactic (NYSE: SPCE) is out of the space tourism business -- at least for a while .
On Saturday, June 8, Virgin Galactic's "Galactic 07" mission successfully took off, briefly visited space, and landed with all passengers safe and sound. This was the company's seventh revenue-generating commercial flight. Now, Virgin intends to retire its single operational "Unity" spaceplane and pause operations while it builds a pair of new "Delta" spaceplanes to replace it.
As a result, for the next two straight years, not a single Virgin spaceplane will get anywhere near space.
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Virgin Galactic Can Breathe a Sigh of Relief, as Elon Musk's Space Tourism Business Stumbles