A rebranded Virgin Galactic to reopen ticket sales
Capitalism in space: Virgin Galactic today announced both a major rebranding of the company — significantly deemphasizing its links to Richard Branson — as well as a resumption of ticket sales for its suborbital flights.
Virgin Galactic opened ticket sales to the general public and rebranded itself today a week ahead of what promises to be another dismal quarterly earnings report. The company most recently reported to having 700 reservations for suborbital spaceflights, with plans to reach 1,000 later this year. Space tourism flights are currently scheduled for the fourth quarter of 2022.
Virgin Galactic’s battered stock, which opened at $8.93, soared by more than 29 percent to $10.50 on the New York Stock Exchange. The company is scheduled to report earnings (actually a loss) for the fourth quarter of 2021 on Feb. 22.
Tickets will cost $450K, with a $150K deposit required. It also appears that — in order to encourage sales — the company is capping present sales to the first 1,000 who provide the deposit. Since it has for years claimed it has 700 paying customers already, this suggests they are looking for only another 300 at this time.
Branson’s share in the company is now only about 11% — having successfully pumped and then dumped 80% of his shares — and it appears its management senses his name and the association with his Virgin Group now carries more negative than positive connotations. The new company logo for example shrinks the word “Virgin” so much that if you didn’t look close, you’d think the company was simply called “Galactic.”
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
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Capitalism in space: Virgin Galactic today announced both a major rebranding of the company — significantly deemphasizing its links to Richard Branson — as well as a resumption of ticket sales for its suborbital flights.
Virgin Galactic opened ticket sales to the general public and rebranded itself today a week ahead of what promises to be another dismal quarterly earnings report. The company most recently reported to having 700 reservations for suborbital spaceflights, with plans to reach 1,000 later this year. Space tourism flights are currently scheduled for the fourth quarter of 2022.
Virgin Galactic’s battered stock, which opened at $8.93, soared by more than 29 percent to $10.50 on the New York Stock Exchange. The company is scheduled to report earnings (actually a loss) for the fourth quarter of 2021 on Feb. 22.
Tickets will cost $450K, with a $150K deposit required. It also appears that — in order to encourage sales — the company is capping present sales to the first 1,000 who provide the deposit. Since it has for years claimed it has 700 paying customers already, this suggests they are looking for only another 300 at this time.
Branson’s share in the company is now only about 11% — having successfully pumped and then dumped 80% of his shares — and it appears its management senses his name and the association with his Virgin Group now carries more negative than positive connotations. The new company logo for example shrinks the word “Virgin” so much that if you didn’t look close, you’d think the company was simply called “Galactic.”
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
Please consider supporting my work here at Behind the Black.
You can support me either by giving a one-time contribution or a regular subscription. There are five ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation:
5. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.
A question for the other readers and writers here: What would you pay to take one of these flights as a passenger? I would want to pay at most twice as much as a transatlantic flight.
When the price comes down to about $25k, I’ll sign up. Either that or quub becomes a big player is satellite development, I sell out, and then fly to space. Either option works.
“When the price comes down to about $25k, I’ll sign up”
Make that 25 cents. I’ll save my money for a real trip to space on SpaceX – and I’m anything but an Elon Musk fanboi.
BTW, the way the stock went up just proves there’s too much money in the market chasing too few real opportunities
I predict this company will be out of business within 5 years.
Rebranding huh? No changing of spots will be enough…