Virgin Galactic posted a loss of $48.8 million in the third quarter of 2021.Virgin Galactic
Key Takeaways:
Virgin Galactic reported an improved Q3 loss but delayed commercial spaceflights to Q4 2022 to prioritize extensive fleet enhancements aimed at increasing durability, reliability, and flight frequency.
Despite service delays, the company notes strong demand, having sold over 700 seats and generated interest from an additional 60,000 potential space tourists, though analysts remain mixed on its profitability timeline.
The company addressed a past FAA grounding for an airspace deviation during its Unity22 flight, implementing operational improvements and enhanced communication protocols for future missions.
Virgin Galactic Holdings (NYSE: SPCE) has notched another quarterly loss amid delays in its commercial space service as it shifts its focus to making enhancements to aircraft.
The aerospace and space travel company, announcing its third quarter results on Monday, posted a loss of $48.8 million, improving from a $92.1 million loss a year earlier.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
