Showing posts with label Virgin Galactic. Show all posts
Showing posts with label Virgin Galactic. Show all posts

06 May, 2024

Next Virgin Galactic flight window opens from 8th June.....

Virgin Galactic Holdings has said that ‘Galactic 07’ flight window will open on Saturday, June 8, 2024. This will be the Company’s second spaceflight this year and 12th to date.

Virgin Galactic’s spaceship will again be converted into a suborbital science lab, with VSS Unity carrying an Axiom Space affiliated researcher astronaut who will conduct multiple human-tended experiments. In addition, Purdue University and UC Berkeley will have autonomous payloads on board, supported by NASA’s Flight Opportunities program. This mission showcases Virgin Galactic’s ability to provide a flexible microgravity research platform, benefiting further space exploration initiatives as well as innovations on Earth.

“Discovery and innovation are central to our mission at Virgin Galactic. We’re excited to build on our successful record of facilitating scientific experiments in suborbital space, and we look forward to continuing to expand our role in suborbital research going forward,” said Michael Colglazier, CEO of Virgin Galactic. “‘Galactic 07’ will also mark and celebrate VSS Unity's final commercial flight – an exciting and historic turning point for the business as we dedicate our resources fully to the production of our next-generation Delta spaceships, on track for commercial service in 2026.”

“Axiom Space’s commitment to enabling access to space and providing opportunities for scientific discovery beyond Earth aligns closely with Virgin Galactic’s mission,” said Tejpaul Bhatia, Chief Revenue Officer of Axiom Space. “We are very excited about this upcoming Galactic 07 flight; stay tuned for more on our groundbreaking research and astronaut participant as we get closer to June 8th.”

The hybrid research and private astronaut crew of ‘Galactic 07’ will include:

16 April, 2024

Virgin Galactic Reports Inducement Award

Virgin Galactic Holdings, Inc. announced that the Compensation Committee of Virgin Galactic’s Board of Directors approved the grant of time-based inducement restricted stock unit awards of 23,946 shares of Virgin Galactic common stock to one new non-executive employee, effective April 15, 2024.

The award was granted under Virgin Galactic’s 2023 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Virgin Galactic. The restricted stock unit award will vest over a four-year period: 25% of the underlying shares will vest on the first anniversary of the grant date and the remaining 75% of the shares will vest over the remaining 12 quarters, subject to continued service. The award was granted as an inducement material to the new employee entering into employment with Virgin Galactic, in accordance with NYSE Listing Rule 303A.08.


09 February, 2024

Small pin grounds Virgin Galactic craft

Virgin Galactic Holdings has confirmed an issue that was found during routine post-flight reviews following its most recent spaceflight,  ‘Galactic 06,’ with an alignment pin that detached from the launch pylon of VMS Eve. Virgin Galactic also confirmed they notified the U.S. Federal Aviation Administration (FAA) on 31st January in accordance with regulations which grounded the spacecraft while a review in conjunction with the FAA takes place.

‘Galactic 06’ was a safe and successful flight that was conducted in accordance with Virgin Galactic’s rigorous flight procedures and protocols. Virgin Galactic says that at no time did the detached alignment pin pose a safety impact to the vehicles or the crew on board. Virgin Galactic flights occur in restricted airspace and at specific geographical launch locations that control the hazards to people or structures on the ground. There was no damage to the spaceship or the mothership.

The alignment pin helps ensure the spaceship is aligned to the mothership when mating the vehicles on the ground during pre-flight procedures. During mated flight, as the vehicles climb towards release altitude, the alignment pin helps transfer drag and other forces from the spaceship to the shear pin fitting assembly and into the pylon and center wing of the mothership. The shear pin fitting assembly remained both attached and intact on the mothership with no damage. While both parts play a role during mated flight, they do not support the spaceship’s weight, nor do they have an active function once the spaceship is released.

The alignment pin and shear pin fitting assembly performed as designed during the mated portion of the flight, and only the alignment pin detached after the spaceship was released from the mothership.

Virgin Galactic will provide a further update at the completion of the review and will confirm the flight window for the ‘Galactic 07’ mission, which is planned for the second quarter of 2024.

27 January, 2024

Virgin Galactic Completes 11th Successful Spaceflight

Virgin Galactic is an aerospace and space travel company, pioneering human spaceflight for private individuals and researchers with its advanced air and space vehicles. Scale and profitability are driven by next generation vehicles capable of bringing humans to space at an unprecedented frequency with an industry-leading cost structure.
Virgin Galactic Holdings has successfully completed its first spaceflight of 2024 and 11th mission to date. The ‘Galactic 06’ flight marked the first time all four seats aboard VSS Unity were occupied by private astronauts.

Michael Colglazier, CEO of Virgin Galactic, said: "The incredible team at Virgin Galactic supported another successful mission and delivered an unforgettable experience for four new astronauts. The success of ‘Galactic 06’ and the Company’s other commercial spaceflights in recent months only increases our confidence in the repeatability of our product and our ability to deliver a superlative experience to our customers. With the production of our next-generation Delta-class ships underway, we look forward to expanding our flight capacity with testing expected to start next year and commercial service in 2026.”

Onboard ‘Galactic 06’:

Astronaut 023 – Lina Borozdina, Ukraine and Nevada, U.S.
Astronaut 024 – Robie Vaughn, Texas, U.S.
Astronaut 025 – Franz Haider, Austria
Astronaut 026 – Neil Kornswiet, California, U.S.

The launch was watched from the ground at Spaceport America by more than 150 guests alongside Virgin Galactic’s team.

VSS Unity was commanded by C.J. Sturckow with pilot Nicola Pecile. Michael Masucci commanded mothership VMS Eve joined by pilot Dan Alix.

‘Galactic 06’ Flight Facts:

Take-off Time: 10:00 am MT
Altitude at Release: 44,493 ft
Apogee: 55.2 miles
Top Speed: Mach 2.98
Landing Time: 10:56 am MT

The Company’s next mission, expected in the second quarter of 2024, will include both a researcher and private astronauts. More information on that mission will be announced soon.

19 October, 2023

‘Galactic 05’ research mission will be Virgin Galactic’s sixth flight in six months

Virgin Galactic announced the ‘Galactic 05’ flight window will open on November 2, 2023. This would be the Company’s sixth spaceflight this year and tenth to date. The ‘Galactic 05’ mission would once again see Virgin Galactic’s Spaceship converted into a suborbital space lab for space-based research. This research mission reaffirms Virgin Galactic’s commitment to providing unprecedented access to space by reducing the historical barriers of time and cost associated with innovative microgravity and space-based research.

“The pursuit of scientific discovery has driven Virgin Galactic from the beginning, and we’re thrilled to offer a wide breadth of high-quality and reliable access to space-based research,” said Michael Colglazier, CEO of Virgin Galactic. “With six flights in six months, our teams have delivered on our turn time objectives for our initial spaceship, VSS Unity. ‘Galactic 05’ will be our second commercial human-tended research mission, and insights from this flight will be used to enhance and refine the research capabilities of our future Delta fleet.”

The dynamic crew of the ‘Galactic 05’ mission will include:

Astronaut 020 - Dr. Alan Stern, U.S. Planetary Scientist and Associate Vice President in Southwest Research Institute’s (SwRI) Space Sector
Astronaut 021 - Kellie Gerardi, U.S. Payload Specialist and Bioastronautics Researcher for the International Institute for Astronautical Sciences (IIAS)
Astronaut 022 - Private Astronaut – Franco-Italian nationality

‘Galactic 05’ is set to become Galactic’s sixth space research mission and its second this year. Alan and Kellie are experienced researchers who plan to conduct human-tended research during the suborbital spaceflight. As a former NASA Associate Administrator for the Science Mission Directorate, Alan is a long-time advocate for commercial suborbital research platforms. Sponsored by SwRI, Alan’s mission is planned to be a training flight for a future suborbital spaceflight as part of NASA’s Flight Opportunities program. During ‘Galactic 05’, Alan will fly a biomedical harness to collect physiological data related to human spaceflight and conduct practice activities for an astronomical experiment on the NASA flight.

Kellie, sponsored by IIAS, plans to fly three payloads, two of which will evaluate novel healthcare technologies in microgravity conditions through the collection of biometric data with the Astroskin biomonitoring device, and examine how confined fluid behaves to inform future healthcare technologies in space. Her research has been developed through extensive reduced gravity flight campaigns with the National Research Council of Canada (NRC) and would now be advanced through a suborbital flight.

29 June, 2023

Virgin Galactic completes inaugural commercial spaceflight

Virgin Galactic completes inaugural commercial spaceflight

Virgin Galactic has completed its inaugural commercial spaceflight from Spaceport America in New Mexico today.

The Galactic 01 spaceflight carried 13 research payloads and three crew members from the Italian Air Force and the National Research Council of Italy.

The take-off time was 8:30am MT, the altitude at release was 44,500 feet, the apogee was 52.9 miles, the top speed was Mach 2.88 and the landing time was 9:42am MT.

Virgin Galactic will now begin post-flight inspections and analysis in preparation for its next commercial space mission, Galactic 02, which will bring its unique experience to private astronauts. The mission is scheduled for August, with Virgin Galactic planning monthly flights to space beginning thereafter.

“Today, our team successfully flew six people and more than a dozen research payloads to space in VSS Unity, our unique, suborbital science lab,” said Virgin Galactic CEO Michael Colglazier. “This historic flight was our first commercial flight and our first dedicated commercial research mission - ushering in a new era of repeatable and reliable access to space for private passengers and researchers. Galactic 02, our first spaceflight with private astronauts, is planned for August and we expect VSS Unity to continue with monthly space missions while we simultaneously work to scale our future spaceship fleet for a global audience.”

The crew onboard Galactic 01 was:

Astronaut 008, Col. Walter Villadei, Italian Air Force

Astronaut 009, Lt. Col Angelo Landolfi, Physician, Italian Air Force

Astronaut 010, Pantaleone Carlucci, Engineer, National Research Council of Italy

Astronaut 003 Colin Bennett, Astronaut Instructor, Virgin Galactic

VSS Unity was piloted by commander Mike Masucci and pilot Nicola Pecile, with VMS Eve piloted by commander Kelly Latimer and pilot Jameel Janjua.

Col. Walter Villadei of the Italian Air Force said:   "I am beyond proud to be a part of this historic spaceflight. Galactic 01 is Italy’s first commercial suborbital research spaceflight, and an amazing achievement made possible thanks to the long-lasting collaboration between the Italian Air Force and the National Research Council of Italy. During the centennial year of both Italian institutions, we fly to the highest point of our history.

"This groundbreaking collaboration propels Italy into the new era of commercial spaceflight as a pathfinder, fostering innovation and paving the way for further technological enhancement in this strategic domain. Together, and in partnership with Virgin Galactic, we have set a precedent for future endeavours and the boundless possibilities that lie ahead. We honour today all the people that not only have made possible this amazing flight, but all the ones that have dedicated their life to our beliefs in this past 100 years. Virtute Siderum Tenus."

16 June, 2023

Virgin Galactic starts commercial operations.

Virgin Galactic has confirmed the start of commercial spaceline operations, with the first commercial spaceflight, ‘Galactic 01,’ planned to fly between 27th June – 30th June 2023. ‘Galactic 01,’ a scientific research mission, will carry three crew members from the Italian Air Force and the National Research Council of Italy to conduct microgravity research.

The second commercial spaceflight, ‘Galactic 02,’ will follow in early August 2023, with monthly spaceflights expected thereafter.

10 May, 2023

Virgin Galactic reports net loss of $159 million in the first quarter.

Virgin Galactic Holdings, the space company has released details of its latest financial results, demonstrating a net loss for the company in the first quarter of 2023 $159 million, compared to a $93 million net loss in the same period last year. Virgin Galactic say this was primarily driven by investments related to the development of the future fleet and enhancements for the current fleet. The firm has a strong cash position, with cash, cash equivalents and marketable securities of $874 million as of March 31, 2023. Net cash used in operating activities totalled $136 million, compared to $66 million in the first quarter of 2022.  Cash paid for capital expenditures totalled $3 million, compared to $2 million in the first quarter of 2022.

Michael Colglazier, Chief Executive Officer of Virgin Galactic said, "We are excited to return to space with the 'Unity 25' mission planned for the end of May, and we are actively readying for commercial service to begin in late June. Concurrently, we are making steady progress on the development of our Delta Class spaceships, the driver of revenue growth and profitability in the business. Our strong cash position, combined with focused cost discipline and strategic investments in our growth initiatives, will enable our business to scale over the long-term."

VSS Unity’s successful glide flight on April 26, 2023, and earlier mated flight with VMS Eve, further validated the enhancements made to the ships during the modification period and cleared them for spaceflight.   On May 8, 2023, the Company announced a planned launch in late May for VSS Unity to return to space carrying Virgin Galactic mission specialists to conduct a final evaluation of the customer experience ahead of commencing commercial service.

Virgin Galactic names crew for return to space in late May

Virgin Galactic has named the mission specialists who will take part in the upcoming Unity 25 mission. Unity 25 is the final assessment of the full spaceflight system and astronaut experience ahead of the first commercial flight, ‘Galactic 01’, planned for late June.

Beth Moses is the veteran space traveller of the Unity 25 cabin crew. As Virgin Galactic’s Chief Astronaut Instructor, this is Beth’s third flight to space. In 2019, she became the first woman to fly aboard a commercial space vehicle. It was after that mission that Beth was awarded her commercial astronaut wings by the FAA.

Before joining Virgin Galactic in 2013, Beth served as the Extravehicular System Manager for the International Space Station at NASA. She holds a bachelor’s degree and master’s degree in aeronautical and astronautical engineering from Purdue University. And on top of all that, no one at Virgin Galactic more thoughtfully shares the transformative power of experiencing the majesty of our planet from space than Beth.

Christopher Huie, known to his teammates as “Chuie”, is an Aerospace Engineer and Senior Manager on Virgin Galactic’s Flight Sciences Engineering team. In the six years he has been with the company leading the External Loads Engineering discipline, Chuie’s thoughtful approach to both his work and to those he works with has set him apart as a leader at Galactic. 

The University of Maryland Clark School of Engineering graduate is intimately familiar with VSS Unity and VMS Eve having worked on nearly every component of the spaceship’s and mothership’s designs, helping to ensure both structural integrity and mission success. He is the co-founder of and spokesperson for Virgin Galactic’s Black Leadership in Aerospace Scholarship and Training (BLAST) Program, mentoring college students with the aim of increasing the number of Black leaders in the aerospace industry.  Chuie, who hails from Florida, is the son of Jamaican immigrants and will become only the 19th Black astronaut in the world.

Jamila joined Virgin Galactic in 2019 where she has been an integral part of our team, leading internal communications. Jamila proudly hails from the Land of Enchantment and borderlands, just an hour’s drive from where she will fly to Space at The Gateway to Space at Spaceport America, New Mexico. 

Jamila attended New Mexico State University, studying linguistics, museum conservation, anthropology, and studio art. As a Latina woman of Purรฉpechan-Mexican roots, a visual artist, and a communications professional who speaks four languages, Jamila will bring a different perspective from the pilots and engineers who have flown before her. 

Like many of our customers, Jamila doesn’t come from a technical or engineering background, making her well-placed to evaluate our customer readiness program. Jamila will become the third Virgin Galactic woman to fly to space, joining the first 100 women astronauts in history.

Luke Mays joined Virgin Galactic in March of this year as our newest Astronaut Instructor. Luke comes to Galactic from NASA where he spent several years training astronauts with a focus on creating repeatable, scalable training programs. 

In addition, Luke is skilled in working with international and multi-cultural astronaut candidates, making him well-suited for Galactic’s worldwide customer base. In his 25 years in aerospace, Luke has developed a training style that focuses on cultivating personal and professional growth.

For all of his experience training future astronauts for space missions, this mission, all of Virgin Galactic’s Astronaut Instructors will have flown to space giving the entire team the invaluable experience needed to prepare our Future Astronauts and researchers.

Images Virgin Galactic

09 May, 2023

Is Virgin Orbit's future secured after 30 indications of interest received?

The troubled space launch system, founded by Sir Richard Branson in 2017, Virgin Orbit has confirmed that more than 30 indications of interest have been received under the court-approved bid procedures of its Chapter 11 Bankruptcy protection plan. 

The company said these letters of interest came from multiple parties that proposed to continue to operate the business as a going concern and retain current employees in an integrated enterprise.

Company CEO Dan Hart said: “I’m pleased with the number and quality of the indications of interest we’ve received, which we believe reflects the innovative ideas and hard work the team has put into the development of this unique system. I look forward to continuing to work with those who have expressed interest and other parties as we approach the final bid deadline.”  The bid deadline for final binding offers is set for later this month.

Of course, at this stage, it is by no means clear how realistic any of these indications of interest are, how they are to be financed or who they are from, although it is believed that Elon Musk's SpaceX is not one of those interested parties. 

Whilst the early phases of a buy-out continue, there is no guarantee that any winning bidder will continue to operate the Virgin Orbit business as a going concern, retain current employees or indeed result in any return to the company's shareholders. There is a little more hope on the horizon for the company than there was before. Also to that end,  the Virgin Orbit team is going ahead with the final integration of the next rocket toward launch, which is currently planned for later this year.

Virgin Orbit has already delivered commercial, civil, national security, and international satellites into orbit, via its Virgin Orbit’s LauncherOne rockets which are carried under the wing of a modified former Virgin Atlantic Boeing 747-400 jet. 

The first launch from a UK base ended in disaster which has led the company to file for Chapter 11 Bankruptcy in the U.S. where it is based.

Jason Shaw said: "I think there is a future for Virgin Orbit, although,  maybe some fundamental changes might be needed to its delivery system.  I would have liked to have seen a better interaction between Virgin Galactic and Virgin Orbit, I'm sure they could have found a way to fire LauncherOne from one of the Virgin Galactic launch aircraft, had they been more involved and entwined from the start." 

It is understood the UK Government is watching the situation with keen interest,  in 2019 the UK's Space Agency awarded the firm £7.35 million to enable it to operate from Cornwall Airport Newquay.    

A dislodged filter caused Virgin Orbit's failed UK launch it was revealed in April.

25 April, 2023

Changes to the board of Virgin Galactic

Virgin Group Executive Evan Lovell Appointed Chair of the Board of Directors

Former U.S. Secretary of the Navy Raymond Mabus, Jr. to Join Board as Lead Independent Director

Former Global Investment Manager Diana Strandberg to Join as New Director

Board Members Bring Strong Mix of Expertise, Industry Experience and Diverse Perspectives

Virgin Galactic Holdings, today announced several changes to Virgin Galactic’s Board of Directors including the appointment of two new directors. The Company also announced that Virgin Group’s Chief Investment Officer, Evan Lovell, has been appointed Chair of the Board of Directors, effective April 21. Lovell has served as the Company’s interim chair since February 2022 and as a member of the Company’s Board since October 2019. He is a seasoned private equity investor and operator, having invested and participated in global private equity and M&A over the past 20 years.

The Company also appointed two new directors: Raymond Mabus, Jr. and Diana Strandberg, with Mabus serving as Virgin Galactic’s Lead Independent Director. Mabus brings extensive public sector experience to the role having served as U.S. Secretary of the Navy from 2009 to 2017 and as the Governor of Mississippi. Strandberg recently retired from a distinguished career at global investment manager, Dodge & Cox, most recently holding the role of Senior Vice President and Director, International Equity and as an Executive Board Member.

Michael Colglazier, Chief Executive Officer of Virgin Galactic said: “We are thrilled to have Evan appointed as our Chair of the Board and to welcome Ray and Diana as new Board members. Evan has been an important member of our board for many years, and his experience with the Virgin Group will continue to be a strong asset going forward. Ray and Diana’s dynamic and complementary expertise in capital markets, international business and government will greatly benefit Virgin Galactic as we launch and grow our global commercial spaceline.”

Lovell said: “I am honoured to be appointed as Board Chair at such an exciting time for Virgin Galactic. With the launch of commercial service, we are poised for great things, and it’s a privilege to serve in this role alongside my fellow directors as we embark on a new, growth-oriented chapter.”

Additionally, on April 21, 2023, directors Adam Bain and George Mattson notified the Board that they plan to retire from the Board at the end of their current terms and will not stand for re-election at the Company’s Annual Shareholder Meeting.

13 January, 2023

Virgin Galactic updates leadership structure

Virgin Galactic Holdings, an aerospace and space travel company, has announced its updated leadership structure to support commercial spaceline operations, which are on track for Q2 2023 as previously announced by the Company.

The organizational changes will support the Company's core near-term objectives of delivering increased flight frequency and executing on rapid fleet development plans.

As part of this leadership update, Swami Iyer, President, Aerospace Systems, will be departing from his position, effective January 12, 2023. He will continue to serve as an advisor to Michael Colglazier, CEO of the Company, until March 3, 2023 to ensure a smooth transition.

"With the completion of the enhancement program for our mothership at hand, our streamlined leadership structure will help propel the business forward as we prepare for commercial spaceline operations," said Colglazier. "Swami has been instrumental in establishing our future production strategy and in leading the work to prepare our initial ships for commercial flight, and we are incredibly grateful for his contribution. Our experienced leadership team brings deep expertise to the next exciting phase for the Company – flying our customers safely and regularly to space and expanding our future fleet."

The leadership team of industry veterans leading Virgin Galactic's spaceline operations includes:

Mike Moses, President, Spaceline Missions and Safety
Moses has led flight and mission operations at Virgin Galactic since 2011 following his seventeen-year career at NASA, where he led space shuttle launch operations until the shuttle retired from service in 2011.
Mike Moore, Executive Vice President, Spaceline Technical Operations
Moore joined Virgin Galactic in 2022 following a long and successful career as SVP, Technical Operations with Delta Airlines. His team at Virgin Galactic works to ensure vehicles are manufactured, maintained, and sustained to the highest standards of quality, reliability, and efficiency.
Steve Justice, Senior Vice President, Spaceline Programs and Engineering
Justice – a 39-year veteran of Lockheed Martin and a "legend" in its Skunk Works division – leads the design, engineering, and program management of Virgin Galactic's spaceflight system and future fleet development.
Planned upgrades of VMS Eve are complete, and the mothership is expected to enter ground tests next week before commencing flight tests to verify the enhancements to the ship. Commercial service remains on track to begin in Q2 2023.

Air101: Virgin Galactic rapidly growing with new spaceship manufacturing facility in Mesa, Arizona

22 November, 2022

Sarah E. Kim named as Executive Vice President, Chief Legal Officer and Corporate Secretary at Virgin Galactic

Sarah E. Kim has been named as Executive Vice President, Chief Legal Officer and Corporate Secretary by Virgin Galactic and will start on December 5, 2022.

As a seasoned executive with over 15 years of legal and finance experience, Kim will be responsible for all aspects of the Company’s legal, compliance and regulatory functions. This includes advising on future transactions, strategic partnerships, and investments, ensuring securities compliance and corporate governance, managing legal and business risks, and developing and overseeing the Company’s in-house legal staff and outside counsels.

“I am thrilled to welcome Sarah to the Virgin Galactic team. Sarah’s experience in innovative and high growth companies will greatly benefit Virgin Galactic as we advance toward the launch of commercial service and continue to grow,” said Michael Colglazier, CEO of Virgin Galactic. “Her track record of working closely with executive leadership and boards across legal, compliance, and regulatory issues is a perfect fit for the fast-paced and complex situations we face in the commercial space industry.”

07 November, 2022

Virgin Galactic announces third quarter 2022 Financial Results And Provides Business Update

Virgin Galactic Holdings, announced its financial results for the third quarter that ended September 30, 2022, last week and provided a business update.

Virgin Galactic Holdings, announced its financial results for the third quarter that ended September 30, 2022, last week and provided a business update.
Photo Virgin Galactic Holdings

Third Quarter 2022 Financial Highlights:

Cash position remains strong, with cash and cash equivalents and marketable securities of $1.1 billion as of September 30, 2022.
Net loss of $146 million, compared to a $48 million net loss in the third quarter of 2021.
GAAP selling, general, and administrative expenses of $46 million, compared to $48 million in the third quarter of 2021. Non-GAAP selling, general and administrative expenses of $38 million in the third quarter of 2022, compared to $40 million in the second quarter of 2021.
GAAP research and development expenses of $97 million, compared to $34 million in the third quarter of 2021. Non-GAAP research and development expenses of $94 million in the third quarter of 2022, compared to $31 million in the third quarter of 2021.
Adjusted EBITDA totaled $(129) million, compared to $(68) million in the third quarter of 2021.
Net cash used in operating activities totaled $(101) million, compared to $(52) million in the third quarter of 2021.
Free cash flow totaled $(107) million, compared to $(53) million in the third quarter of 2021.
Cash paid for capital expenditures totaled $6 million, compared to $1 million in the third quarter of 2021.
Generated $100 million in gross proceeds through the issuance of 15.6 million shares of common stock as part of the at the market offering announced on August 4, 2022.

Michael Colglazier, Chief Executive Officer of Virgin Galactic said, “We remain on track to launch commercial service in the second quarter of 2023, and we look forward to validating the modifications to VMS Eve and VSS Unity with multiple scheduled test flights in the coming months. We are also executing on our key strategic initiatives to scale our business as a global Spaceline over the long-term. With Aurora Flight Sciences building our next generation motherships, and the selection of experienced manufacturers, Bell Textron and Qarbon Aerospace, to help build our Delta Class Spaceships, we have our primary suppliers in place to expand our fleet and support our long-term growth.”

Business Highlights and Recent Updates:

On November 2, 2022, we announced Bell Textron and Qarbon Aerospace as primary suppliers to build Delta Class spaceships. The first Delta Class spaceship is expected to be completed in 2025.
On track to launch commercial service in Q2 2023.

Virgin Galactic is an aerospace and space travel company, pioneering human spaceflight for private individuals and researchers with its advanced air and space vehicles. It is developing a spaceflight system designed to connect the world to the love, wonder and awe created by space travel and to offer customers a transformative experience.

04 November, 2022

Virgin Galactic names two primary suppliers for its 'Delta Class Spaceships'


Virgin Galactic, the aerospace and space travel company, announced this week that it has reached agreement with Bell Textron Inc. (“Bell”) and Qarbon Aerospace to manufacture key subassemblies for the Company’s new Delta class spaceships. The production-model vehicle is designed to fly weekly with six passengers per ship. Production is slated to begin in 2023.

Bell Textron Inc. and Qarbon Aerospace to manufacture major subassemblies for the next generation spaceships

Design work to begin immediately with vehicle production targeted to commence in 2023

Bell, a subsidiary of Textron Inc. with more than 85 years of manufacturing experience in the aviation industry, will supply the unique feathering system and flight control surfaces. Qarbon Aerospace, known for its expertise in constructing large, complex composite parts for aerospace and aviation, will produce the fuselage and wing. The companies were selected following a competitive RFP process based on their ability to meet Virgin Galactic’s unique design and fabrication requirements.

Virgin Galactic will continue to be responsible for the overall system architecture, design authority for all components, and the final assembly, integration, checkout, and acceptance testing of the vehicles.

“The Delta class spaceships are an evolution of our distinctive flight system, designed for improved manufacturability, maintenance and flight rate capability,” said Virgin Galactic CEO Michael Colglazier. “Bell and Qarbon Aerospace are established partners who bring know-how, ideas and resources that will enable us to produce up to six new Delta Class ships per year. Together with Aurora Flight Sciences, who is producing our next gen motherships, we now have the primary suppliers in place to propel the production of our spaceline fleet at scale.”

12 August, 2022

Matt Boguradzki named as Vice President, Sales and Strategy at Virgin Galactic

Virgin Galactic has named former Rolls-Royce executive Matthew Boguradzki as its new Vice President, Sales and Strategy, effective immediately.  Boguradzki will lead Virgin Galactic’s sales team and will oversee all sales efforts including strategy, sourcing, negotiation, and client management.

“Our thoughtful and high-touch approach to our customer journey is one of Virgin Galactic’s defining features,” said Blair Rich, President and Chief Business Officer, Commercial and Consumer Operations. “As we continue to scale our business, evolving and growing our world-class sales operation will be critical. Our recent commercial announcements demonstrate our strong momentum, and bringing in a leader of Matthew’s calibre is an important next step. His experience and networks are deeply aligned with our approach and relevant to our customer demographic, and we’re thrilled to welcome him to the team.”

05 August, 2022

Virgin Galactic Appoints Mike Moore as Executive Vice President, Spaceline Technical Operations

Virgin Galactic announced this week that former Delta Air Lines executive Mike Moore has been appointed Executive Vice President, Spaceline Technical Operations, effective August 22.

Moore will lead Virgin Galactic’s technical operations and maintenance team in charge of ensuring the Company’s vehicles are ready for flight. As part of this new position, he will help design and implement the operational model and technical infrastructure needed to support high cadence spaceflights during commercial service. Moore will report to CEO Michael Colglazier.

“A major part of delivering the Astronaut experience at Virgin Galactic sits with our technical operations team, which ensures our Spaceflight system is fit and ready to fly,” said Colglazier. “I am thrilled that Mike is joining us to lead the expansion of our talented technical operations team at Spaceport America as we develop our capabilities in preparation for commercial service. Mike has more than 28 years of experience overseeing daily aerospace operations, and his expertise and steadfast dedication to safety, quality, and process improvement will be indispensable as we enter this chapter.”

02 August, 2022

Virgin Galactic secures land for new astronaut campus and training facility

Virgin Galactic Holdings, has secured land to move forward with a new astronaut campus and training facility in the State of New Mexico, near the Company’s commercial operations headquarters.
Virgin Galactic Holdings, has secured land to move forward with a new astronaut campus and training facility in the State of New Mexico, near the Company’s commercial operations headquarters.

The land, located in Sierra County, will be home to a new, first-of-its-kind astronaut campus, for exclusive use by Virgin Galactic Future Astronauts and up to three of their guests in advance of a spaceflight from Spaceport America. The master plan for the campus will include training facilities, purposeful accommodations, and tailored experiences as well as an observatory, wellness centre, recreation activities, and unique dining options -- all underpinned by Virgin’s signature hospitality.

Situated near Spaceport America, the campus will sit atop a mesa overlooking the stunning New Mexico landscape. With a focus on sustainability and minimal impact to the surrounding environment, the purpose-driven design of the project will embrace water conservation and re-use, eco-friendly materials, and low carbon mobility as key considerations in the development of the site. The campus is being designed with bold simplicity, function, innovation, and emotional connectivity at the core, paying homage to the region’s spectacular natural vistas.

Virgin Galactic Holdings, has secured land to move forward with a new astronaut campus and training facility in the State of New Mexico, near the Company’s commercial operations headquarters.

15 July, 2022

Virgin Galactic rapidly growing with new spaceship manufacturing facility in Mesa, Arizona

Virgin Galactic has signed a long-term lease for a new final assembly manufacturing facility for its next-generation Delta class spaceships in Mesa, just next to the Phoenix-Mesa Gateway Airport.

According to the plan,  this new facility should be able to produce up to six spaceships per year and will bring hundreds of highly skilled aerospace engineering and manufacturing jobs to the area.

The Delta class spaceship is Virgin Galactic’s production vehicle that is designed to fly weekly, supporting the target of 400 flights per year from Spaceport America. Based on current schedules, the first of these ships is expected to commence revenue-generating payload flights in late 2025, progressing to private astronaut flights in 2026. Virgin Galactic motherships will ferry completed spaceships to Spaceport America, New Mexico for flight tests and commercial operation.

“Our spaceship final assembly factory is key to accelerating the production of our Delta fleet, enabling a rapid increase in flight capacity that will drive our revenue growth.” said Virgin Galactic CEO Michael Colglazier. “We’re thrilled to expand into the greater Phoenix area which is home to outstanding aerospace talent – and we look forward to growing our team and fleet at our new facility.”

The facility is already under construction and is expected to be fully operational by late 2023. Final assembly manufacturing processes at the facility will be underpinned by a digital twin architecture which enables seamless integration between the Company and suppliers allowing for real-time collaboration, strong governance, and an increase in production efficiency and reliability.

Swami Iyer, Virgin Galactic’s President of Aerospace Systems said, “Arizona is a growing innovation hub, geographically situated between our existing operations in Southern California and New Mexico. This will allow us to accelerate progress from conceptual design to production to final assembly at scale as we capitalize on the many advantages Mesa and the greater Phoenix area offer.”

23 June, 2022

Sierra Space and Spaceport America sign agreement on landing site for Dream Chaser

Sierra Space, a leading commercial space company at the forefront of creating and building the future of space transportation and infrastructure for low-Earth orbit (LEO) commercialization, and Spaceport America announced today the signing of a new Memorandum of Understanding (MOU). The agreement adds the world-class New Mexico spaceport to Sierra Space’s portfolio of potential global landing sites for its Dream Chaser, the world’s first and only winged commercial spaceplane.

Spaceport America, located in southern New Mexico, is the most recent addition to a growing list of compatible runways worldwide where the Dream Chaser could land, including the Shuttle Landing Facility (SLF) at NASA’s Kennedy Space Center and airports and landing sites in Huntsville, Alabama, Oita Airport, Japan, and Spaceport Cornwall in the United Kingdom.

Dream Chaser is a multi-mission space utility vehicle designed for transporting crew and cargo to and from LEO destinations, including the International Space Station (ISS). The spaceplane is currently under contract with NASA for seven commercial resupply missions to the ISS providing cargo delivery, return and waste disposal services. It is the only commercial spacecraft capable of low-g earth return to compatible commercial runways worldwide, allowing immediate access to high-value payloads. Dream Chaser is set to launch in 2023.

“Sierra Space is building the future of space – from transportation to commercial space destinations and all of the emerging applications – to develop a vibrant, growing and accessible commercial space economy,” said Sierra Space CEO, Tom Vice. “With that vision in mind, we are creating space-tech hubs within the commercial space ecosystem and adding Spaceport America as a prospective landing site for Dream Chaser to continue to open up affordable access to space for all.”

The new MOU outlines the two organizations’ mutual pursuit to increase Spaceport America’s capabilities and demand for Dream Chaser reentry at the spaceport. As a result, in line with their shared vision, both parties will pursue a Part 433 reentry site operator’s license for Spaceport America from the Federal Aviation Administration (FAA). Dream Chaser is currently under contract to perform cargo supply and return missions for NASA starting in 2023, delivering up to 12,000 pounds of cargo to the International Space Station (ISS) at a time.

“Spaceport America is enormously proud to combine efforts with Sierra Space,” added Scott McLaughlin, Executive Director of Spaceport America. “As a potential landing site for the Dream Chaser spaceplane, we will continue to open affordable access to space for all in the United States and the world. We are excited to expand the partnership and working relationship with Sierra Space. This MOU also helps highlight the vision for Spaceport America and to help connect other users of both the spaceport and the Dream Chaser to New Mexico.”

Sierra Space is a diamond-level sponsor of the Spaceport America Cup, the world’s largest intercollegiate rocket engineering competition. Additionally, Sierra Space president and former astronaut, Dr. Janet Kavandi, will deliver opening remarks at the event, which is set to take place June 21, 2022 to June 25, 2022.

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