Hyperdrive
Virgin Galactic Cleared by FAA to Fly Customers Into Space
- Shares rise almost 40% in biggest-ever single day gain
- Startup awarded first commerical operation space license
Virgin Galactic Holdings Inc. received regulatory approval to fly customers into space, moving the budding industry founded by billionaires one step closer to reality. The shares surged almost 40% -- the biggest one-day jump ever.
The Federal Aviation Administration upgraded the company’s existing license to cover customer flights, Virgin Galactic said Friday in a statement, saying the approval was the first of its kind. The company also confirmed that a May 22 test flight performed well against objectives.