• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
Advertisement
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Virgin Galactic Falls After Delaying First Commercial Flight

October 15, 2021
in Finance
Reading Time: 2 mins read
A A
0
Virgin Galactic Falls After Delaying First Commercial Flight
0
SHARES
13
VIEWS
ShareShareShareShareShare

(Bloomberg) — Virgin Galactic Holdings Inc. is pushing the start of commercial flights further into next year after rescheduling a test flight, disappointing investors with the unexpected delay to its space tourism business plans.

Most Read from Bloomberg

A program to upgrade the company’s spaceplane is taking place a month later than anticipated, forcing the delay of a planned research mission with a crew of four and the start of commercial service into the fourth quarter of 2022, it said Thursday.

Virgin Galactic told analysts on an August conference call it was targeting its first private astronaut flight for “late Q3” next year.

Shares of the company fell 14% in postmarket trading to $20.59.

A recent lab test identified a possible issue with the strength margins of certain materials used to modify joints that will require further analysis but have “no impact” on its space vehicles, Virgin Galactic said.

“Our decisions are driven by detailed and thorough analysis, and we fly based on the most accurate and comprehensive data available,” Michael Colglazier, the company’s chief executive officer, said in the statement.

Virgin Galactic, founded by entrepreneur Richard Branson, has been working to commercialize space flight since 2004. It received regulatory approval from the Federal Aviation Administration to fly customers into space in June.

The rescheduling is unrelated to an internal probe into a potentially defective part, Virgin Galactic said. Last month, it delayed the flight window for the research mission to mid-October due to a possible problem with a flight control actuation system component.

The upcoming research flight is scheduled to include two members of the Italian Air Force, an aerospace engineer and a Virgin Galactic employee.

The FAA lifted a ban on the company’s test flights last month after concluding an investigation into Virgin Galactic’s failure to inform the agency of an errant trajectory in a July 11 launch, which carried Branson and three others. The regulator had grounded it on Sept. 2.

(Updates with details of potential issue causing the delay in fifth paragraph.)

Most Read from Bloomberg Businessweek

©2021 Bloomberg L.P.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Stock futures edge up after S&P 500’s best day since March

Next Post

Coinbase Proposes a New Agency To Regulate The Cryptocurrency Industry

Related Posts

Shopify Stock Is up Over 40% This Year. How Much Higher Can It Go?
Finance

Shopify Stock Is up Over 40% This Year. How Much Higher Can It Go?

January 28, 2023
4
Mark Zuckerberg reportedly said he doesn’t like seeing ‘managers managing managers,’ fueling speculation of more layoffs
Finance

Mark Zuckerberg reportedly said he doesn’t like seeing ‘managers managing managers,’ fueling speculation of more layoffs

January 28, 2023
4
Helbiz Provides Transparency on Filed Proxy Statement
Finance

Helbiz Provides Transparency on Filed Proxy Statement

January 28, 2023
2
Recession fears pose challenge to energy shares after stellar year
Finance

Recession fears pose challenge to energy shares after stellar year

January 28, 2023
4
White House blasts Big Oil stock buybacks again as Chevron profits double
Finance

White House blasts Big Oil stock buybacks again as Chevron profits double

January 28, 2023
4
Next Post
Coinbase Proposes a New Agency To Regulate The Cryptocurrency Industry

Coinbase Proposes a New Agency To Regulate The Cryptocurrency Industry

Recommended

Bitcoin Surges on Inflation Tailwinds, Hovers Near $21K

Bitcoin Surges on Inflation Tailwinds, Hovers Near $21K

January 16, 2023
4
Lloyds share price gains steam as Wall Street banks stumble

Lloyds share price gains steam as Wall Street banks stumble

January 18, 2023
5
Circle Blames US SEC for Failed $9B Spac Deal: FT

Circle Blames US SEC for Failed $9B Spac Deal: FT

January 25, 2023
5
On Tangle requests, token based voting, future of search

On Tangle requests, token based voting, future of search

January 22, 2023
4
Reata Pharmaceuticals, Inc. (NASDAQ:RETA) Q3 2022 Earnings Call Transcript

Reata Pharmaceuticals, Inc. (NASDAQ:RETA) Q3 2022 Earnings Call Transcript

January 1, 2023
9
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • FBI Announces Takedown of Hive Ransomware Network
  • NFT Collection Gangster All Star Evolution Price, Stats, and Revi…
  • Shopify Stock Is up Over 40% This Year. How Much Higher Can It Go?

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?