Virgin Galactic CEO Michael Colglazier says the company expects VSS Unity to begin commercial flights in the 4th quarter, flying monthly. VSS Imagine will begin testing in the fall and revenue flights in 1Q/23, initially with research payloads. It will fly twice a month.
Colglazier says the company plans to have 1,000 customers (“future astronauts”) signed up when commercial flights begin late this year. About 250 seats remaining. Once full, VG will build a “highly qualified reservation pipeline.”
Colglazier: will work with “tier one” suppliers to provide major subassemblies for future Delta-class spaceships and new mothership. Plan to have new final assembly facility operational by late 2023, capable of producing six spaceships a year.
Those Delta-class vehicle will be able to fly weekly, says CFO Doug Ahrens, but won’t being flying people until 2026. Company expects to be cash-flow positive by 2026.
As a reminder, here’s a chart from an investor day presentation in the fall of 2019 as Virgin Galactic was closing its SPAC merger. It project positive EBITDA of $12M in 2021; the company reported negative EBITDA of -$245M instead. 
VG executive don’t explicitly state it, but it’s clear from flight rates that the company will not have flown its first 1,000 customers by the time the Delta-class vehicles begin flying customers in 2026.
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