Virgin Galactic to increase price for space tourism flights

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Virgin Galactic Holdings Inc. said that it plans to charge more for its space tourism flights when it resumes sales in the first quarter of 2026.

The Richard Branson-founded company had been selling tickets for suborbital joyrides on its forthcoming Delta spacecraft at about US$600,000 a seat. Company executives didn’t disclose a new price tag during a call with analysts after Virgin Galactic reported results for the first quarter on Thursday.

The company competes with Jeff Bezos’ Blue Origin LLC in selling short trips to space for sightseeing and research.

The first flight with the new spaceship — a research mission — is planned for summer 2026, with private astronaut flights slated for the fall of that year, the company said. Virgin Galactic paused tourism operations in June 2024 to focus on developing its upgraded Delta spacecraft.

Shares of Virgin Galactic, which have slumped to under $5, rose about 13% in postmarket trading after closing at $3.35.

The revamped Delta vehicles will hold six passengers, two more than in the vehicle used on previous trips. The new craft also is designed for faster turnaround between missions. The company said that it will be able to clear the existing backlog of ticket holders in about a year using the new spacecraft.

Virgin Galactic reported revenue of about $460,000 for the first quarter, slightly above the roughly $400,000 analysts were expecting.

The company reported negative free cash flow of $122 million in the quarter, similar to the same period a year ago. Virgin Galactic expects to have negative free cash flow of between $105 million to $115 million in the second quarter.