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Virgin Galactic Holdings, Inc (NYSE: SPCE) deferred the beginning of its commercial flights by another three months to the second quarter of 2023, citing delays in work refurbishing its carrier aircraft,
SPCE had previously pushed back the date from the fourth quarter of this year to the first quarter of next year, CNBC reports.
The company currently has one carrier aircraft, or "mothership," called VMS Eve, which is about 14 years old and is undergoing a protracted refurbishment.
The jet-powered mothership plays a crucial role in Virgin Galactic's flights by carrying the company's spacecraft up to about 50,000 feet altitude for launch.
Virgin Galactic reported second-quarter revenue of $357,000, above the consensus. It reported a net loss of (43) cents per share, which missed the consensus loss.
Earlier, SPCE collaborated with Boeing Co (NYSE: BA) to design and manufacture the company's next-generation motherships. The mothership is the company's air launch carrier aircraft, which carries a spaceship to its release altitude.
Price Action: SPCE shares traded lower by 13.80% at $7.06 in the premarket on the last check Friday.
Photo: courtesy of Virgin Galactic
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