Virgin Galactic’s Space‑Travel Postponed, Stocks Take a Dive
When Virgin Galactic announced that its commercial space‑flight service would now only kick off in the last quarter of 2022, the market didn’t part with a hug. Shares slid 13 % after hours, as the company put the launch of its next test flight on hold.
What Went Down?
- FAA on September 2 barred the company from flying SpaceShipTwo until a full report on the July 11 flight – which carried billionaire Richard Branson and five crew members up to 80 km – was finished.
- By September 29 the FAA closed the mishap investigation after the vehicle mistakenly drifted out of its assigned airspace during descent, lifting the earlier grounding order.
- Virgin Galactic had eyed a new Day‑two launch, Unity 23, from New Mexico, aiming for a mid‑October kickoff. That plan has now been put on snooze.
The New Strategy: First Up, Enhancements
Instead of throwing Unity 23 into the mix tomorrow, the company is going back to the drawing board to push its enhancement programme. The goal? Better vehicle performance and a higher take‑off rate.
A recent lab test flagged a potential drop in the strength margin of some joint‑materials. “The new data hasn’t changed the vehicles or our flight protocols,” the company said. “We’ll do a deeper dive to ensure everything remains solid and safe.”
Why It Matters
Even a slight dip in material resilience can mean the difference between a smooth ride and a rough landing. By tightening the specs now, Virgin Galactic hopes to avoid surprises once they swish through space again.
In short, the company is taking the fashion‑forward route of \”working on ourselves before we take the world on.\”
What’s Next for Virgin Galactic?
The next test flight will follow once the enhancement work wraps up, and only then will the commercial service launch in Q4 2022. Until then, the timeline remains a moving target, and investors are on the edge of their seats.
