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6/25, 12:53 PM (Source: TeleTrader)
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Virgin Galactic gets FAA approval for full commercial flight

Virgin Galactic Holdings, Inc. announced on Friday that the United States Federal Aviation Administration (FAA) allowed the operator to fly customers into space.

According to Virgin Galactic, this is the first time that the FAA has licensed a spaceline to fly customers, adding that this is "further validation of the company’s methodical testing program." Moreover, the company also stated that it has reviewed all the data from its May 22 test flight, saying that the flight "performed well against all flight objectives."

Michael Colglazier, Chief Executive Officer of Virgin Galactic, commented on the news: "We’re incredibly pleased with the results of our most recent test flight, which achieved our stated flight test objectives. 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."

Virgin Galactic shares were 9.26% higher in the premarket trade following the news.

Breaking the News / OL