Virgin Galactic has announced that it has completed upgrades to its VSS Unity spaceplane and is set to resume passenger flight programs later this year, according to a company statement released on Tuesday. The move comes after the company halted flights of the VSS Unity and its carrier plane, the VMS Eve, in 2021 to work on the craft.

VSS Unity is a suborbital spaceplane that is launched using a carrier aircraft which carries the spaceplane up to an altitude of around 15,000 meters. Once at this altitude, VSS Unity is released from the carrier aircraft and its rocket engines ignite, propelling it into space.

Virgin Galactic's chief, Michael Colglazier, has stated that the company's goal for the near future is to provide flights safely on a regular basis, offering both researchers and space tourists an unparalleled experience.

Founded in 2004 by billionaire Richard Branson, Virgin Galactic's target audience includes wealthy individuals and organizations interested in space tourism and research. The company has already sold trips to around 800 customers with the current cost $450,000 per person.

In February, the company conducted the first test flight of its carrier plane since 2021, with plans to perform "two or three" more test flights before transporting passengers. The first flight is scheduled to focus on research for the Italian Air Force.

Virgin Galactic hopes to conduct monthly flights to serve its existing customer base following the completion of these test flights. During the flight, passengers will be flown to a height of about 80 kilometers above Earth, where they will experience low gravity for around 10 minutes before returning home, landing in a manner similar to that of a conventional airplane.

The VMS Unity and its carrier plane take off and land in New Mexico. In 2014, the original developer of SpaceshipTwo, Scaled Composites suffered a major setback when one of its passenger spaceships broke up during a test flight, killing one pilot and severely injuring another. The company is looking to put that incident behind it and has recently reopened ticket sales to the public, with the expectation of resuming regular flights soon.

Sources have stated that this is a significant step for Virgin Galactic as it aims to establish itself as a leader in space tourism. Investors are closely watching the company as it seeks to generate revenue and establish itself as a key player in the emerging space tourism market.