Richard Branson Won the Space Tourism Battle, but His Company Lost the War

upstart writes with an interesting read on the trials and tribulations of Virgin Galactic:

It has been 12 months to the day since Sir Richard Branson briefly departed this world, only to make a feathery return back to Earth, landing on a hot, dusty runway in rural New Mexico.

The flight marked a triumphant moment for Branson, who, just a week before turning 71 years old, fulfilled a childhood dream of going to space. In doing so, Branson beat fellow space-obsessed billionaire Jeff Bezos to the punch. The exuberance about his flight-and what it promised for Virgin Galactic-helped push his company's stock above $50 a share.

As Richard Branson went to space, he and his company seemed to be on top of the world.

But it has been a rough ride in the year since. Most crucially, Virgin Galactic's VSS Unity spaceship has yet to fly a single time again, and it may not do so until this winter. In the meantime, Bezos' space tourism company, Blue Origin, has started to regularly fly paying customers into space, higher than Virgin Galactic, on a fully reusable spacecraft. Partly as a result, Virgin Galactic's stock price has crashed, now trading at about $7 a share.

[...] "They've always overpromised and undelivered on their flight schedule, so I never expected their promised flight cadence," said Laura Forczyk, a space industry analyst. But the long delay between Branson's flight and a successor mission raises red flags, she said.

"Going a full year without even setting a date for their next flight is not a good sign," she said. "It leads me to conclude there really were serious structural or operational issues with Virgin Galactic's recent flights, despite their denial."

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