Spacebound! Virgin Galactic gears up for final test flight in May, shares rise

Virgin Galactic is preparing to make space tourism a reality,

The space-tourism company backed by billionaire Richard Branson announcedits final test flight on Monday. Reuters reported that the company hopes to launch its first commercial flight in late June after this final test of the spaceflight system and astronaut experience.

Shares ofthe company jumped by 4 percent following the announcement, highlighting the level of interest in Virgin Galactic's space tourism plans.

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The announcement comes after the company had todelay its commercial service to the first quarter of 2023 aftersupply-chain crises and labor shortages.

However, after completing a lengthy upgrade for its centerpiece spacecraft in February, it has reopened ticket sales for spacecraft flights. With tickets priced at $450,000 per person and an initial deposit of $150,000, space enthusiasts are keen to be part of this ground-breaking experience.

"Returning to space is what we have all worked towards," said Mike Moses, president of spaceline missions and safety. As per Reuters, a team of four astronauts comprising Jamila Gilbert, Christopher Hue, Luke Mays, and Beth Moses will embark on the final test flight for Virgin Galactic.

The space tourism industry is highly competitive, and Virgin Galactic has faced its fair share of setbacks over the years. In 2014, a fatal crash during a test flight set the company back considerably.However, the company's ambitions to make space tourism a reality have remained steadfast. With competition from companies like Blue Origin and SpaceX, the pressure is on to deliver a safe and unforgettable customer experience.

The space tourism industry is still in its infancy. There are many hurdles to overcome before it becomes a mainstream industry. However, the potential rewards are enormous, with experts predicting that space tourism could eventually become a multi-billion-dollar industry.