Virgin Galactic Shares Up 9% After FAA Clears It to Fly Again
September 29 2021 - 6:05PM
Dow Jones News
By Stephen Nakrosis
Virgin Galactic Holdings Inc. on Wednesday said the U.S. Federal
Aviation Administration concluded an inquiry that focused on
details of the company's Unity 22 flight in July, adding the
company has been cleared to fly FAA-licensed spaceflights.
Virgin Galactic shares rose following the news. At 5:28 p.m. ET,
the stock had risen 9.7% to trade at $24.74. Volume at the time
topped 655,000 shares.
The company's stock finished the day's regular-trading session
with a 3.6% loss, closing at $22.56.
Virgin Galactic said the FAA advised it that corrective actions
proposed by Virgin have been accepted, adding the inquiry, which
began August 11, has been concluded.
Earlier this month, The Wall Street Journal reported Virgin
Galactic said the spacecraft shifted out of its planned trajectory
for one minute and 41 seconds, prompting the FAA to examine what
happened.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 29, 2021 17:50 ET (21:50 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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