Virgin Galactic to Delay Space Travel Service

Oct 15, 2021 By MarketDepth

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Virgin Galactic Holdings Inc. (NYSE: SPCE) yesterday announced the decision to delay its commercial space travel service to Q4 2022. 

Shares Drop

Shares of Virgin Galactic dropped 15% in premarket trading.

Test Flights Scheduled

The company will now begin its planned enhancement program for VMS Eve and VSS Unity, with the Unity 23 test flight scheduled for after the program is complete. The enhancement program is designed to improve vehicle performance and flight-rate capability for the two craft.

Italian Air Force Test Flights

Following the enhancement period, the Company intends to progress the two craft through the vehicle testing program, which includes a planned research test flight with the Italian Air Force. Commercial flights are set to commence after these steps have been completed.

“Our decisions are driven by detailed and thorough analysis, and we fly based on the most accurate and comprehensive data available. The re-sequencing of our enhancement period and the Unity 23 flight underscores our safety-first procedures, provides the most efficient path to commercial service, and is the right approach for our business and our customers.”

Michael Colglazier, Chief Executive Officer of Virgin Galactic