Virgin Galactic Holdings recently announced its financial results for Q3, 2022 and confirmed that it was on track to launch commercial space flights in Q2, 2023.
“We look forward to validating the modifications to VMS Eve and VSS Unity with multiple scheduled test flights in the coming months,” Michael Colglazier, CEO of Virgin Galactic, announced.
“We are also executing our key strategic initiatives to scale our business as a global spaceline over the long term. With Aurora Flight Sciences building our next-generation motherships, and the selection of experienced manufacturers Bell Textron and Qarbon Aerospace to help build our Delta-class spaceships, we have our primary suppliers in place to expand our fleet to support our long-term growth,” he said.
On November 2, Virgin Galactic confirmed Bell Textron and Qarbon Aerospace as primary suppliers to build Delta-class spaceships. The first is expected to be completed in 2025.
However, the group reported a nett loss of US$146m (R2,52bn) in Q3, 2022, compared with a US$48m (R829,3m) loss in Q3, 2021. Forecasted free cash flow for Q4, 2022 is expected to be in the range of US$120m-US$130m (R2,07bn-R2,25bn).
