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FAA clears Virgin Galactic after completing an investigation of Branson's spaceflight; stock jumps 10%

FAA clears Virgin Galactic after completing an investigation

October 01, 2021: -On Friday, the Federal Aviation Administration cleared Virgin Galactic to return to flight after completing a mishap investigation into the spaceflight that carried Sir Richard Branson.

The regulator had grounded the space tourism company’s operations after the FAA learned that the spacecraft of the company went off course in the mission on July 11.

“The investigation found the Virgin Galactic SpaceShipTwo vehicle deviated from its assigned airspace on its descent from space,” the FAA said, which added that “Virgin Galactic failed to communicate the deviation” as required.

Virgin Galactic is making “required changes” to its communications during spaceflight operations, the FAA noted. The company says that it updated its calculations “expanding the protected airspace” in future missions, as well as taken “additional steps” to the FAA receives “real-time mission notifications.”

Virgin Galactic shares increased by 10% in after-hours trading from its close of $22.56.

“We appreciate the FAA’s thorough review of this inquiry. Our test flight program is specifically designed to improve our processes and procedures continually. The updates to our airspace and real-time mission notification protocols will strengthen our preparations as we move closer to the commercial launch of our spaceflight experience,” Virgin Galactic CEO Michael Colglazier said.

Branson’s spaceflight was not as flawless as seeming to viewers of Virgin Galactic’s live broadcast. While spacecraft VSS Unity’s rocket engine was firing during the ascent, a warning light came on because of the vehicle going off trajectory.

The New Yorker first reported the issue that increasing in Branson’s trip to space. The report emphasized concerns with Virgin Galactic’s technology and safety culture, highlighted by the recent departure of flight test director Mark “Forger” Stucky, who was fired over a video call following Branson’s spaceflight. The New Yorker stressed that Stucky repeatedly issued warnings internally at Virgin Galactic about the safety of the flight tests of the company.

Virgin Galactic was targeting late September to early October for its next spaceflight test, known as Unity 23, and carrying six people on board two pilots and four passengers on a mission for the Italian Air Force. The company has not yet released a launch date for Unity 23, said that this month, the earliest the spaceflight would happen is mid-October, given the FAA investigation.

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