Virgin Galactic lost $60 million in first quarter, announces new NASA partnership for supersonic tech
Space tourism venture Virgin Galactic lost $60 million in the first quarter of 2020, down from the $73 million net loss it suffered at the end of last year, according to the company’s earnings statement today. The company says it earned revenue of just $238,000 this first quarter by “providing engineering services.”
Along with these earnings results, Virgin Galactic is announcing that 400 people put down refundable deposits to fly on the company’s tourist spaceplane in the future. The full cost to fly on the vehicle is $250,000, but through a new initiative, Virgin Galactic allowed aspiring astronauts to put down just $1,000 to reserve a seat on a future flight. The company says those deposits represent “over $100 million of potential...