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Virgin Galactic lands on $450,000 as starting price for space tourism

Oh, and $450,000 is the 'starting price' for one seat.

8/6/2021 3:39:00 AM

Oh, and $450,000 is the 'starting price' for one seat.

Virgin Galactic Holdings Inc. said Thursday it is selling seats on its space-tourism flights for $450,000 and up, and reported a “surge in consumer interest”...

Virgin Galactic SPCE, +2.44% said its “private astronaut market” will have three offerings, with $450,000 the cheapest option for a single seat. Virgin will also offer a multi-seat package for couples, friends or families, and a full-flight buyout, with the first open seats going to its “significant list of early hand-raisers,” and a follow-on priority list for those interested in reserving seats in future spaceflights.

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“As we endeavor to bring the wonder of space to a broad global population, we are delighted to open the door to an entirely new industry and consumer experience,” Chief Executive Michael Colglazier said in a statement.In July, Virgin’s founder Richard Branson and five crewmates flew to suborbital space on the company’s VSS Unity rocket-powered spacecraft. Wall Street has estimated that space tourism will grow to a $8 billion market by 2030, with Virgin its “leader.”

The stock jumped more than 5% in the extended session Thursday despite a wider-than-expected quarterly loss for the space company.Virgin reported a second-quarter loss of $94 million, or 39 cents a share, compared with a loss of $72 million, or 34 cents a share, in the year-ago quarter. FactSet consensus called for a loss of 33 cents a share for the quarter. It also reported revenue of $571,000, above consensus for revenue of $300,000. headtopics.com

Virgin’s next spaceflight is targeted for late September, the company said. As previously disclosed, the flight will be a paid mission for the Italian Air Force.The company said it ended the quarter with a “strong” cash position, including cash and equivalents of $552 million at the end of June.

Virgin said it continues to experience delays to its business and operations due to COVID-19, and that it continues to operate under strict health protocols. Read more: MarketWatch »

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Four US gymnastics stars will testify before the Senate Judiciary Committee during a hearing about the FBI's handling of the sex abuse investigation of former USA Gymnastics doctor Larry Nassar. Follow here for the latest news.

$450k for a 10 minute ride in low earth orbit? Sure, I’m feeling stupid today. elonmusk daddydoge was in space today. The toy is for your son! daddydogetoken So, we’re gonna ban gasoline cars, but we’ll allow any moron to dump tons of CO2 into the atmosphere for fun? Will they take Tripcoin as payment

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Nissan's battery partner to spend over $450 mln on new plant in JapanNissan Motor Co's (7201.T) Chinese battery partner Envision AESC said on Wednesday it would spend 50 billion yen ($460 million) to build a new battery plant in Japan's Ibaraki prefecture north of Tokyo. Funny to see how our Reuters hacks won't mention the name and nationality of that partner in their headline, and that only because that would not fit their daily geopoliticized propaganda.

Virgin Galactic Restarts Spaceflight Ticket Sales For A Stratospheric $450,000 A PopThe company carried Richard Branson to the edge of space for its first crewed flight last month. elonmusk daddydoge was in space today. The toy is for your son! daddydogetoken

The Prices For Disney's New All-Inclusive Star Wars Hotel Are Truly AstronomicalDisney World's Star Wars: Galactic Starcruiser hotel costs almost as much as a Disney cruise, with prices starting at $4,809.

Stocks making the biggest moves after hours: Beyond Meat, Virgin Galactic, TripAdvisor & moreCheck out the companies making headlines in after hours trading.

Angela Bassett Could Be TV's Highest-Paid Drama Actress of Color EverThe actress' salary increase has reportedly put her above $450,000 per episode, which includes her work as executive producer. Bought damn time. She is a legend Pay her everything. Omg, I love her so much. Worth every penny

Angela Bassett’s Record-Setting Payday Raises Some Disheartening QuestionsBassett will reportedly earn “north of $450,000 an episode” on the Fox drama ‘9-1-1,’ making her one of the highest-paid actresses of color on a broadcast drama. She needs more. It's known that as a show goes on, the salary can gradually increase. If you compare the same period, during the 5th season, Friends cast made $100,000 per episode. Ellen Pompeo made $200,000 per episode in 2007. Anyway, Queen Bassett!