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Virgin Galactic ‘evaluating’ timeline for subsequent flight check, shares drop By Reuters 

© Reuters. FILE PHOTO: Virgin Galactic (SPCE) emblem is displayed on a display on the ground of the New York Inventory Change (NYSE) as the corporate begins public buying and selling in New York, U.S., October 28, 2019. REUTERS/Brendan McDermid

(Reuters) – Billionaire Richard Branson’s Virgin Galactic Holdings (NYSE:) Inc stated on Monday it was evaluating the timing of its subsequent flight check, sending shares down 9.4% in prolonged commerce.

“Following Eve’s final put up slide inspection, we tagged a possible put on and tear problem as requiring additional analysis and evaluation to see if any further motion is critical,” stated Michael Moses, president of the corporate’s house missions & security, on a put up earnings convention name.

“We proceed to make strides in the direction of our strategic aims and have strong momentum as we give attention to finishing our flight check program,” Chief Government Officer Michael Colglazier stated in a statetment.

Virgin Galactic, which delayed its quarterly outcomes by a couple of week, stated complete future astronauts remained at about 600, as of March 31.

It additionally posted a first-quarter lack of $130 million, in comparison with a $377 million web loss final yr.

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