Virgin Galactic Shares Surge On Partnership With Boeing's Subsidiary To Build New Motherships

·1 min read
  • Virgin Galactic Holdings Inc (NYSE: SPCE) has inked an agreement with Aurora Flight SciencesBoeing Co's (NYSE: BA) subsidiary, to partner in designing and manufacturing its next-generation motherships.

  • The mothership is the air launch carrier aircraft in Virgin Galactic's space flight system that carries the spaceship to its release altitude of ~50,000 feet.

  • Virgin Galactic has been working with Aurora for several months to develop design specifications. The two-vehicle contract enables Aurora to immediately begin the development of the vehicles, each designed to fly up to 200 launches per year.

  • "Our next generation motherships are integral to scaling our operations. They will be faster to produce, easier to maintain and will allow us to fly substantially more missions each year," commented Michael Colglazier, Virgin Galactic Chief Executive Officer.

  • Aurora plans to manufacture the aircraft at its Columbus, Mississippi, and Bridgeport, West Virginia facilities.

  • The first new mothership is expected to enter service in 2025.

  • Price Action: SPCE shares are trading higher by 4.34% at $6.73 during the post-market session on Wednesday, and BA closed lower by 1.01% at $136.31.

  • Photo via Wikimedia Commons

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