Hyperdrive
Virgin Galactic Resumes Taking Deposits for Future Space Trips
- Branson-backed company resumes taking deposits on future trips
- Shares fall after fourth-quarter results show wider loss
Virgin Galactic Holdings Inc. is preparing to resume ticket sales for future space flights, seeking to maintain momentum toward commercial service amid widening losses.
Founded by billionaire Richard Branson, Virgin Galactic will begin taking $1,000 refundable deposits Feb. 26. It didn’t specify when it will resume selling seats, how many it will offer or what price it would charge. Given the demand, the market would bear a higher ticket price than the previous $250,000 for Virgin’s premium experience, Chief Executive Officer George Whitesides said Tuesday.