Virgin Galactic Begins Planned Vehicle Enhancement and Modification Period; Unity 23 Test Flight Rescheduled to Follow Completion of This Program
October 14 2021 - 4:30PM
Business Wire
- Recent material testing returned new data that requires further
analysis
- Italian Air Force mission to follow enhancement period
- Potential supplier component issue has been resolved
- Commercial service expected to commence in Q4 2022
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or
“Virgin Galactic”), a vertically integrated aerospace and space
travel company, today announced that it will now begin its planned
enhancement program for VMS Eve and VSS Unity and will conduct the
Unity 23 test flight after this work is complete.
The enhancement program is designed to improve vehicle
performance and flight-rate capability for VMS Eve and VSS Unity.
In preparation for this work, Virgin Galactic has been performing
routine tests and analyses to update its material properties
database. This data predicts how materials are expected to perform
under certain load and environmental conditions and is used to
inform the design and manufacturing enhancements that will support
increased flight frequency. One of these recent laboratory-based
tests flagged a possible reduction in the strength margins of
certain materials used to modify specific joints, and this requires
further physical inspection.
As is standard in aerospace test and evaluation practices,
Virgin Galactic ships are designed to withstand forces that are
substantially higher than those experienced in regular use,
providing additional margin and layers of safety. The enhancement
program is designed to further increase margins that will enable
improved reliability, durability and reduced maintenance
requirements when in commercial service. While this new lab test
data has had no impact on the vehicles, our test flight protocols
have clearly defined strength margins, and further analysis will
assess whether any additional work is required to keep them at or
above established levels. Given the time required for this effort,
the Company has determined the most efficient and expedient path to
commercial service is to complete this work now in parallel with
the planned enhancement program.
Following the enhancement period, the Company intends to
complete the vehicle testing program for VMS Eve and VSS Unity,
including the planned research test flight with the Italian Air
Force, before starting commercial flights.
Michael Colglazier, Chief Executive Officer of Virgin Galactic,
said: “Our decisions are driven by detailed and thorough analysis,
and we fly based on the most accurate and comprehensive data
available. Virgin Galactic vehicles are designed with significant
margins for safety, providing layers of protection that far exceed
loads experienced and expected to occur on our flights. The
re-sequencing of our enhancement period and the Unity 23 flight
underscores our safety-first procedures, provides the most
efficient path to commercial service, and is the right approach for
our business and our customers. We are deeply appreciative of the
Italian Air Force Research Mission and grateful for their continued
partnership with us in this test flight program.”
This schedule update is unrelated to the Company’s recent
inquiry into a potential defect in a supplier component announced
on September 10, 2021, which has been successfully resolved. While
the supplied component in question was not on either VMS Eve or VSS
Unity, in accordance with safety protocols, Virgin Galactic
completed detailed inspections and scans which found all components
met quality and safety standards and were ready for flight. The
enhancement period is now beginning approximately one month later
than anticipated, and commercial service is now expected to
commence in Q4 2022.
You can download all press materials including images and
b-roll 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 with its advanced air and
space vehicles. It is developing a spaceflight system designed to
connect the world to the wonder and awe created by space travel and
to offer customers a 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.
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For media inquiries: Aleanna Crane - Vice President
Communications
Virgingalacticpress@virgingalactic.com +1 575 800
4422
For Investor Relations inquiries: Seth Zaslow -
Vice President Investor Relations
seth.zaslow@virgingalactic.com +1 714 732 4780
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