Hyperdrive
Virgin Galactic Falls After Delaying First Commercial Flight
- Shares slide on unexpected rescheduling to late next year
- Company cites potential issue with joint materials in lab test
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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.
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.