All systems go for Virgin Galactic Holdings (SPCE).
Just the other day, the company opened ticket sales to the public for the first time.
All you’ll need is a $150k deposit. Pocket change, right? I kid.
“Virgin Galactic ticket prices start at $450,000 each, as the company revealed last year, with three different sales offerings: a single seat purchase, packaged seats for couples, friends or family, or opportunities to book entire flights. The company has said previously that — of the $150,000 deposit — $25,000 is not refundable,” according to CNBC.
If all goes well, this could be the start of a massive space tourism industry.
Remember, according to analysts at Cowen, “39% of people with a net worth of more than $5 million are interested in paying at least $250,000 for a flight.” In addition, by 2040, Morgan Stanley believes the space tourism industry could be worth about $1 trillion.
Helping, SPCE just reported better than expected earnings.
The company reported a 31-cent loss on $141,000 in revenue. That’s far better than expectations for a loss of 34 cents.
According to Michael Colglazier, CEO of Virgin Galactic. “We achieved many important milestones in 2021 that laid an essential foundation towards becoming a scaled, commercial operation. In recent weeks, we opened sales to the general public and launched our new global consumer brand. Demand for our one-of-a-kind experience remains strong, and we are currently building our operations to accommodate our growing customer base.”
