Space tourism company Virgin Galactic said today it is selling seats on upcoming flights for $750,000 apiece, as it disclosed a cash balance of $338 million at the end of December. (NYSE: SPCE)
After a two-year break in service, the company said it’s on track to resume flights toward the end of this year, sending the shares up after hours.
The company also said in its quarterly earnings report that its second space ship will enter service toward the end of this year or early in 2027.
Tustin-based Virgin Galactic was founded by U.K. entrepreneur Richard Branson.
Fourth-quarter revenue fell 27% to $312,000, below analysts’ estimates.
Shares in Virgin Galactic rose 11% to $2.47 apiece for a market cap of $160 million after the results were released.
