SPCE - Virgin Galactic Initiates Planned Vehicle Enhancement and Modification Period

Virgin Galactic Holdings, Inc. (NYSE: SPCE) reported commencement of its planned enhancement program for VMS Eve and VSS Unity and plans to conduct the Unity 23 test flight after this work is complete.  The enhancement program is focused to improve vehicle performance and flight rate capability for VMS Eve and VSS Unity.  Virgin Galactic has performed routine tests and analysis to update its material properties database.

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.”

The enhancement period begins approximately one month later than previously anticipated as commercial service is expected to commence in Q4 2022.

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