Virgin Galactic Receives Approval From FAA for Full Commercial Launch License Following Success of May Test Flight
June 25 2021 - 6:45AM
Business Wire
FAA Expands Company’s Commercial Space
Transportation Operator License To Allow Carriage of Space Flight
Participants
Company Details Results of Successful May Test
Flight Following Data Analysis
Test Flight Program on Track for Flights this
Summer
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“the Company” or
“Virgin Galactic”) today announced that the Federal Aviation
Administration (“FAA”) updated the Company’s existing commercial
space transportation operator license to allow the spaceline to fly
customers to space.
The Company also announced that it has completed an extensive
review of data gathered from its May 22 test flight and confirmed
that the flight performed well against all flight objectives.
The adjustment to Virgin Galactic’s operator’s license, which
the Company has held since 2016, marks the first time the FAA has
licensed a spaceline to fly customers. It is further validation of
the Company’s methodical testing program, which has met the
verification and validation criteria required by the FAA.
Michael Colglazier, Chief Executive Officer of Virgin Galactic,
said, “We’re incredibly pleased with the results of our most recent
test flight, which achieved our stated flight test objectives. The
flight performed flawlessly, and the results demonstrate the safety
and elegance of our flight system. Today’s approval by the FAA of
our full commercial launch license, in conjunction with the success
of our May 22 test flight, give us confidence as we proceed toward
our first fully crewed test flight this summer.”
The May 22 test flight of VMS Eve and VSS Unity was the
Company’s third crewed spaceflight and the first-ever spaceflight
from Spaceport America, New Mexico. The flight achieved a speed of
Mach 3 and reached space at an altitude of 55.5 miles. After an
extensive review of the data collected during the flight, the
Company confirmed that:
- The rocket-powered test of the spaceship’s upgraded horizontal
stabilizers and flight controls demonstrated strong performance, in
line with predictions. These enhanced systems, which allow for
finer pilot control, will also be deployed in future spaceships in
the Company’s fleet.
- The cabin environment data was in line with predictions.
- The flight successfully carried three revenue-generating
research experiments that tested and demonstrated technologies in
microgravity as part of NASA’s Flight Opportunities Program. The
pilots flew VSS Unity on a specific trajectory designed to meet the
objectives of these research experiments.
With the data analysis from the May flight now complete, Virgin
Galactic will continue preparing for the remaining three test
flights.
You can download all press materials including images and
broll from the Virgin Galactic Press
Assets
About Virgin Galactic Holdings
Virgin Galactic Holdings, Inc. is a vertically integrated
aerospace and space travel company, pioneering human spaceflight
for private individuals and researchers, as well as a manufacturer
of advanced air and space vehicles. It is developing a spaceflight
system designed to offer customers a unique and transformative
experience. You can find more information at
https://www.virgingalactic.com/
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of federal securities laws with respect to
Virgin Galactic Holdings, Inc. (the "Company"), including
statements regarding the Company’s spaceflight systems, markets and
expected flight schedule. These forward-looking statements
generally are identified by words such as “believe,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” and
similar expressions. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to the
factors, risks and uncertainties included in Amendment No. 2 to our
Annual Report on Form 10-K for the fiscal year ended December 31,
2020, as such factors may be updated from time to time in our other
filings with the Securities and Exchange Commission (the "SEC"),
accessible on the SEC’s website at www.sec.gov and the Investor
Relations section of our website at www.virgingalactic.com. These
filings identify and address other important risks and
uncertainties that could cause the Company’s actual events and
results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and, except as
required by law, the Company assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210625005174/en/
For media inquiries: Aleanna Crane - Vice President
Communications Virgingalacticpress@virgingalactic.com 575 800 4422
For Investor Relations inquiries: Seth Zaslow - Vice
President Investor Relations seth.zaslow@virgingalactic.com 714 732
4780
Virgin Galactic (NYSE:SPCE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Virgin Galactic (NYSE:SPCE)
Historical Stock Chart
From Apr 2023 to Apr 2024