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Thursday, Oct 6, 2022
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Virgin Galactic to Build 6 Spaceships a Year in Arizona

Company signs lease for manufacturing facility

Tustin-based space tourism company Virgin Galactic Holdings Inc. (NYSE: SPCE) said today it has signed a long-term lease for a new final assembly manufacturing facility for its next-generation Delta class spaceships.

Located in Mesa in the greater Phoenix area, the facility will be capable of producing up to six spaceships per year and will bring hundreds of highly skilled aerospace engineering and manufacturing jobs to the area.

The Delta class spaceship is Virgin Galactic’s production vehicle that is designed to fly weekly, supporting the company’s target of 400 flights per year from Spaceport America.

Based on current schedules, the first of these ships is expected to commence revenue-generating payload flights in late 2025.

Shares in Virgin Galactic closed down 0.1% at $6.94 apiece for a market cap of $1.8 billion.

 

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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