Virgin Galactic stock jumps 28% as spaceflight ticket sales open with $150,000 deposit

Virgin Galactic stock jumps 28% as spaceflight ticket sales open with $150,000 deposit

Carrier aircraft VMS Eve is seen in the background shortly after releasing VSS Unity, which is firing its engine and acclerating during the company’s fourth spaceflight test, Unity 22, carrying founder Richard Branson on July 11, 2021.
Virgin Galactic

Space tourism company Virgin Galactic announced Tuesday that it will open ticket sales to the public on Wednesday, requiring a $150,000 deposit.

Virgin Galactic ticket prices start at $450,000 each, as the company revealed last year, with three different sales offerings: a single seat purchase, packaged seats for couples, friends or family, or opportunities to book entire flights. The company has said previously that — of the $150,000 deposit — $25,000 is not refundable.

Shares of Virgin Galactic rose 10% in premarket trading from their previous close of $8.14. The stock has been battered over the past 12 months, dropping 85%, with the company having delayed the beginning of commercial spaceflights to late this year.

For much of the last decade, Virgin Galactic has had about 600 reservations for tickets on future flights, with those tickets sold largely between $200,000 and $250,000 each. The company reopened ticket sales at the $450,000 price in August and had sold about 100 additional tickets as of November.

Alongside opening ticket sales to the public, Virgin Galactic also revealed a rebranding — replacing the iris of Sir Richard Branson in its logo with a purple outline of its spacecraft. The move distances Virgin Galactic from its founder, with Branson having sold more than $1.25 billion in stock since the company went public in 2019 and achieved his longtime dream of passing the U.S. boundary of space in July.

Post a Comment