WASHINGTON, D.C. — Virgin Galactic is poised on Saturday for its last spaceflight before heading into a two-year pause on commercial operations to upgrade its fleet, as the company seeks to finally turn a profit.
The ' Galactic 07' mission is scheduled to begin at around 8:30 a.m. Mountain Time from the company's base in Spaceport, New Mexico, a spokesman said.A huge carrier plane takes off from a runway, gains altitude for around 50 minutes, and then releases from under its wings a spaceplane that soars at supersonic speed to the edge of space, where passengers can enjoy a few minutes of weightlessness and admire the Earth's curve.On board will be two pilots and four private astronauts.
The future of the company is at stake as it seeks at long last to get into the black. Virgin is burning through cash, losing more than $100 million in each of the past two quarters, with its reserves standing at $867 million at the end of March.It also laid off 185 people, or 18 percent of its workforce, late last year. Its shares are currently trading at 85 cents, down from $55 in 2021, the year Branson himself flew, garnering global headlines.
Galactic Set For Final Spaceflight Before Two-Year Pause
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