RESOLVING THE LEDGER
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See the full story · 2 sourcesVirgin Galactic has delayed its return to commercial spaceflight until February 2027, and plans to raise ticket prices later this year. The delay was disclosed alongside the company's financial results, which showed a net loss of $56 million for the second quarter of 2026, down from $67 million a year earlier. Revenue for the quarter was $0.1 million, compared to $0.4 million in 2025. According to CEO Michael Colglazier, demand exceeded the number of seats offered in the first $750,000 batch, prompting the company to prepare another at a higher price. Those customers will, however, have to wait a little longer. Colglazier said: "Our first ship is now expected to enter commercial service in February 2027 rather than the fourth quarter of 2026." He blamed the delay on the extra time needed to "complete avionics and systems installations." During an earnings call, Colglazier said: "No single issue is driving the schedule push. Rather, we have experienced modest time duration extensions across hundreds of relatively small but important installation tasks involved in the first build of our new spaceship." In response to an analyst question, Colglazier elaborated: "The number of those kind of 'Oh, we did not expect this to not fit just perfectly,' coming in is higher than we had allotted for. That just has started to accumulate on us. It really picked up at the tail end of July. For a bit, we thought we could manage that end, but the team just needed more time to do it the correct way." Integrated vehicle ground testing is expected to begin later in August, followed by flight testing in October. A second spaceship is due to join the fleet in March 2027, and the company expects to stop burning cash and "deliver positive quarterly cash flow within 2027." When Virgin Galactic reopened suborbital ticket sales in April, it charged $750,000 for a seat, up from the $600,000 price it cited in 2023. That was a substantial jump from the $100,000 envisaged more than two decades ago, when Sir Richard Branson announced plans for a scaled-up version of Burt Rutan's SpaceShipOne. At the time, the company said commercial flights would resume by the end of 2026. Virgin Galactic's last commercial flight took place in 2024, after which the company paused operations to focus on its next generation of spacecraft. Virgin Galactic is not alone in grounding its space-tourism service. Earlier this year, rival Blue Origin announced that New Shepard flights would pause for "no less than two years" while it worked on its crewed lunar program. ®
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