"There is going to be about a one-year delay," owner Richard Branson told Bloomberg. The team is working "day and night" to get a replacement ready. "They're confident that they're back on track," he said.

The target for the first commercial flight was spring 2015 and Branson said he and his son would be aboard the flight. The crash during a test flight in California's Mojave Desert in October killed the co-pilot and injured the pilot.

The flights will include a 50,000 foot ascent. Passengers will experience weightlessness, dark skies and will be able to see the curve of the Earth. Branson told Bloomberg he still plans to be on the first flight.