Virgin Galactic Announces $81 Million Net Loss for Q4, $353 Million Loss for 2021

  • Commercial Service Remains on Track for Q4 2022
  • Current Fleet Enhancement Program On Schedule to be Completed in Q3 2022
  • Opened Ticket Sales to the General Public

TUSTIN, Calif. (Virgin Galactic PR)– Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic” or the “Company”) today announced its financial results for the fourth quarter and full year ended December 31, 2021 and provided a business update.

“We remain on track and on schedule to complete our enhancement program and launch commercial service later this year,” said Michael Colglazier, Chief Executive Officer of Virgin Galactic. “We achieved many important milestones in 2021 that laid an essential foundation towards becoming a scaled, commercial operation. In recent weeks, we opened sales to the general public and launched our new global consumer brand. Demand for our one-of-a-kind experience remains strong, and we are currently building our operations to accommodate our growing customer base.”

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Omaze and Virgin Galactic Announce Winner of Once-in-a-Lifetime Trip to Space

Virgin Galactic and Sir Richard Branson’s Omaze sweepstakes raised an anticipated $1.7M in grants to support Space for Humanity’s mission to democratize space travel

LOS ANGELES, C.A., November 24, 2021 (Omaze PR) — Today, Omaze, the charity fundraising platform that offers the chance to win once-in-a-lifetime experiences and prizes, and Virgin Galactic, revealed that Keisha S. from Antigua and Barbuda is the exclusive winner of two seats on a Virgin Galactic commercial space flight. Born and raised in Antigua, Keisha is a health and energy coach who is passionate about empowering women to live their best lives. She has always had a lifelong dream of going to space, and hopes to bring her daughter, an astrophysics student, as her guest on this incredible journey.

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Virgin Galactic Delays Next SpaceShipTwo Flight

VSS Unity in flight on July 11, 2021. (Credit: Virgin Galactic)

LAS CRUCES, N.M. (Virgin Galactic PR)– Virgin Galactic Holdings, Inc. (NYSE:SPCE) (the “Company” or “Virgin Galactic”), a vertically integrated aerospace and space travel company, today announced an update regarding the timing of its next test flight “Unity 23” with the Italian Air Force.

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Virgin Galactic Statement About Anomaly on Richard Branson’s Suborbital Space Flight

Virgin Galactic Statement

We dispute the misleading characterizations and conclusions in the New Yorker article published today.

The safety of our crew and passengers is Virgin Galactic’s top priority. Our entire approach to spaceflight is guided by a fundamental commitment to safety at every level, including our spaceflight system, our test flight program and our rigorous pilot training protocol.

Unity 22 was a safe and successful test flight that adhered to our flight procedures and training protocols. When the vehicle encountered high altitude winds which changed the trajectory, the pilots and systems monitored the trajectory to ensure it remained within mission parameters. Our pilots responded appropriately to these changing flight conditions exactly as they were trained and in strict accordance with our established procedures. Although the flights ultimate trajectory deviated from our initial plan, it was a controlled and intentional flight path that allowed Unity 22 to successfully reach space and land safely at our Spaceport in New Mexico. At no time were passengers and crew put in any danger as a result of this change in trajectory.

The Unity 22 flight further reaffirms our technical readiness, our rigorous pilot training program and the inherent safety of our spaceflight system, particularly in light of changing flight conditions. As we move toward commercial service, we are confident we have the right safety culture, policies and processes in place to build and operate a safe and successful business over the long term.

Statement on the FAA

Although the flight’s ultimate trajectory deviated from our initial plan, the Unity 22 flight did not fly outside of the lateral confines of the protected airspace. As a result of the trajectory adjustment, the flight did drop below the altitude of the airspace that is protected for Virgin Galactic missions for a short distance and time (1 minute and 41 seconds) before re-entering restricted airspace that is protected all the way to the ground for Virgin Galactic missions. At no time did the ship travel above any population centers or cause a hazard to the public. FAA representatives were present in the control room during the flight and in post-flight debriefs. We are working in partnership with the FAA to address the airspace for future flights.