Virgin Galactic delays space tourism liftoff
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Virgin Galactic Holdings Inc. announced Thursday that it has postponed test flights for its rocket-powered spaceflight program for two months in order to address technical issues, further delaying its promise of commercial flights.
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The space tourism venture, founded by Richard Branson, told investors in an earnings call that its second and third test flights will be pushed until at least May after the company effectively addresses the technical issues stemming from its Dec. 12 flight.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
SPCE | VIRGIN GALACTIC HOLDINGS INC. | 37.63 | -4.68 | -11.06% |
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The last attempt in December was cut short when computer trouble prevented the spaceship’s rocket from firing properly. Instead of soaring toward space, the ship and its two pilots were forced to make an immediate landing by gliding back down to the runway at the desert outpost in southern New Mexico.
On Thursday, the company said it's confident that the issue was "likely caused by electromagnetic interference or EMI."
Virgin will now delay its February launch "to mitigate it further" before future flights, Mike Moses, Virgin Galatic president of space missions and safety, told investors.