Virgin Galactic
The company said it will now be open to receive reservations for its air-launched rocket, which will cost $450,000 for the 90-minute flight into the edge of space. (Photo: Joe Skipper/Reuters)

Richard Branson's Virgin Galactic is selling space flight tickets to interested would-be astronauts for $450,000 per seat. The opening of ticket sales comes just weeks after Branson flew to the edge of space onboard the company's suborbital spacecraft.

Virgin Galactic said Thursday that it expects to begin operating its commercial paid space flights next year. The company plans to offer customers varied ticket options, including package deals, private flights, and single-seat accommodations. The company said the first few seats would be offered to those in its list of "early hand-raisers."

Apart from offering tickets to private customers, the company will also sell tickets to entities such as those conducting microgravity research. Virgin Galactic also plans to offer professional astronaut training courses.

The company had offered seats onboard its spacecraft in the past, but prices have since skyrocketed. In 2018, the company offered tickets priced at $250,000 per seat. It later halted ticket sales after its VSS Unity successfully reached suborbital space for the first time.

For nearly half a million dollars, passengers on board Virgin Galactic's future flights will be able to experience around four minutes of weightlessness and a "priceless" view of the planet against the backdrop of space. The entire trip is expected to last about an hour from takeoff to landing.

The opening of ticket sales also coincides with the release of the company's second-quarter earnings results. According to the report, the company had incurred a loss of $94 million over the three-month period. The company attributed the loss to increase overhead and sales costs. Revenue for the quarter was only $571,000 - barely enough to buy one ticket onboard its future flights.

Last month, Branson joined the crew of Virgin Galactic's first fully crewed test flight into suborbital space. The company's VSS Unity spacecraft flew 55 miles above the New Mexico desert with Branson and three Virgin Galactic employees.

Just a few days after Branson's historic flight, Amazon founder Jeff Bezos also flew into suborbital space on board Blue Origin's New Shepard spacecraft. The timing of the two flights marked what analysts called a new space race between billionaires fighting to dominate the new space tourism industry.