Month: November 2022

Enlarge / Virgin Galactic's new vehicle, VSS Imagine, is lighter than its predecessor, VSS Unity. Will it ever fly? (credit: Virgin Galactic)

Space tourism company Virgin Galactic released its third-quarter financial results on Thursday. As one might imagine of a spaceflight company that has not flown since June 2021, the financials are pretty disastrous. The company reported revenue of less than $1 million against losses of more than $146 million.

After a long period of downtime, Virgin Galactic officials said the company is close to completing "modifications" of its VMS Eve carrier aircraft and VSS Unity spacecraft. The company expects to complete a glide flight of Unity, which is released from Eve at altitude, in early 2023. After that point, the company will conduct a powered test flight, likely with its own employees on board, before a research flight for the Italian Air Force.

And after that, Virgin Galactic CEO Michael Colglazier said, the company remains on track to begin flying commercial passengers—people who bought their seats, some more than a decade ago—in the second quarter of 2023. As with most schedules in spaceflight, that timeline seems pretty optimistic.

Enlarge / People fish in front of defunct oil drilling rigs in the Corpus Christi Ship Channel at Aransas Pass on March 11, 2019, in Port Aransas, Texas. (credit: Loren Elliot/AFP via Getty Images)

CORPUS CHRISTI, Texas—Five years ago, when ExxonMobil came calling, city officials eagerly signed over a large portion of their water supply so the oil giant could build a $10 billion plant to make plastics out of methane gas.

A year later, they did the same for Steel Dynamics to build a rolled-steel factory.

Never mind that Corpus Christi, a mid-sized city on the semi-arid South Texas coast, had just raced through its 50-year water plan 13 years ahead of schedule. Planners believed they had a solution: large-scale seawater desalination.