Virgin Galactic Holdings Inc. announced on Thursday that it will delay the start of its commercial space flight service until the first quarter of 2023, citing supply chain issues and staffing shortages as reasons.
The company founded by Sir Richard Branson had previously planned to offer a commercial space flight service in the fourth quarter of 2022.
Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are among the companies working to make space tourism a reality, and some have actually launched civilian missions.
Virgin Galactic’s net loss for the first quarter ended March 31 was $93.1 million, compared to a loss of $129.7 million a year ago.
In extended trading, the company’s shares plummeted about 2 percent.
Chief Executive Officer Michael Colglazier remarked, ‘We look forward to returning to space in the fourth quarter and commencing commercial service in the first quarter of next year.’
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