Virgin Galactic shares falter after commercial flight delays

October 15, 2021 | 8:46 am

Actions Virgo Galaxy Fall this Friday, after the company that promotes to start business trips, has rescheduled a test flight until next year, disappointing investors with unexpected delays in commercial space tourism plans.

At 7:50 a.m. (Mexico City time), Virgin Galactic shares were down 17.21% to $19.83, according to Investing.com data.

On Thursday, the company told Bloomberg that the mission delay was due to the company’s space plane upgrade program that will take place a month later than planned, forcing it to postpone a planned fact-finding mission with a crew of four and the start of the commercial flight. Service in the fourth quarter of 2022.

In August, Virgin Galactic told analysts it was targeting its first private flight by “the end of the third quarter” of next year.

Virgin Galactic noted that a recent lab test identified a potential problem in strength margins for some of the materials used to modify joints that requires further analysis, but “has no impact” on their spacecraft.

Our decisions are based on detailed and comprehensive analysis, and we fly based on the most accurate and comprehensive data available.

Michael Colglazier, CEO of the company, said in the statement, which was reported by Bloomberg.

The way to a business trip

Founded by Entrepreneur Richard BransonVirgo, galaxy It has been marketing spaceflights since 2004; In June, received Regulatory approval from the Federal Aviation Administration To transport customers to space.

The company added that the reprogramming was not related to an internal probe on a part that might be defective; In addition, last month, the flight window for the research mission was postponed until mid-October due to a possible problem with a component of the flight control activation system.

The next search flight is scheduled to include two members of the Italian Air Force, an aeronautical engineer and a Virgin Galactic employee.

Last month, the Federal Aviation Administration (FAA) lifted the ban on the company’s test flights, after completing an investigation into Virgin Galactic’s failure to inform the agency of a wrong path in the July 11 launch, which carried Branson and three others, and thus, the regulator halted it . On 2 September.