Virgin Galactic Delays Commercial Flight Launch Report

California-based spaceflight company Virgin Galactic Holdings (SPCE) has postponed the launch of its first commercial flight to the fourth quarter of 2022 from the third quarter. Further, the company will not conduct the second test flight this year, according to a report published by BBC.

The delay is due to a planned upgrade program, targeted to boost the spaceship's durability, which will commence a month later than planned. Shares of the company closed nearly 17% down on Friday at $20.01.

Virgin Galactic said, “It comes after routine tests revealed a possible reduction in the strength margins of certain materials used on its VMS Eve and VSS Unity craft.”

The CEO of the aerospace company, Michael Colglazier, said, “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.”

Virgin Galactic also said it would conduct the next test flight, Unity 23, next summer, with commercial flights starting thereafter.