Virgin Galactic reveals new ship, but it's running out of time and cash
Virgin Galactic has revealed its next-generation spaceship, marking a production milestone as it transitions from its older VSS Unity vehicle. The company aims to resume spaceflights with the new ship by late 2026 or early 2027, carrying research payloads before launching private astronauts. However, Virgin Galactic faces financial challenges, with its cash reserves declining significantly amid a prolonged pause in revenue-generating flights.
- ▪Virgin Galactic shared a photo of its new spaceship being moved outside its factory in Mesa, Arizona, indicating progress in production.
- ▪The company ceased flights of its VSS Unity spacecraft in June 2024 to focus on developing a next-generation vehicle for more frequent and affordable spaceflights.
- ▪Virgin Galactic's cash position dropped from $982 million in February 2024 to $338 million by March 2025 due to lack of flight revenue.
- ▪The new spaceship is expected to enter service between late Q4 2026 and early Q1 2027, following extensive ground testing and systems integration.
- ▪Blue Origin discontinued its New Shepard suborbital tourism program in January 2025, leaving Virgin Galactic as the sole remaining player in the suborbital space tourism market.
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An uphill battle Virgin Galactic reveals new ship, but it’s running out of time and cash It’s not clear whether Virgin Galactic has the cash reserves to fund a prolonged test phase. Eric Berger – May 1, 2026 10:42 am | 3 Virgin Galactic says it has reached a new production milestone with its new spaceship. Credit: Virgin Galactic Virgin Galactic says it has reached a new production milestone with its new spaceship. Credit: Virgin Galactic Text settings Story text Size Small Standard Large Width * Standard Wide Links Standard Orange * Subscribers only Learn more Minimize to nav On Thursday, the publicly traded spaceflight company Virgin Galactic shared on social media a new photo of its next-generation spaceship being towed outside of its factory in Mesa, Arizona.
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