Tuesday, May 5, 2020

Virgin Galactic Signs Up 400 For Possible Future Flights

Mojave-based Virgin Galactic said on Tuesday that it has now signed up over 400 people for its "One Small Step" program, the first step in reserving tickets on future space flight on the company's space tourism flights, adding to the existing 600 people who have already reserved trips with the company. According to Virgin Galactic, the 400 refundable deposits could potentially represent over $100M in potential future revenue. Virgin Galactic announced the details as part of its first quarter, 2020 financial results. The space tourism company started taking deposits in the One Small Step program in February, charging $1000 for a chance to reserve a seat on future flights. Virgin Galactic says it now has cash and cash equivalents of $49M, and saw a net loss of $60M for the quarter.

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