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Virgin Galactic shares jump 12% after space company says next test flight will be this week

Virgin Galactic’s spacecraft Unity fires its rocket engine and heads to space on Feb. 22, 2019.

Virgin Galactic

Virgin Galactic stock jumped after the space tourism company announced its next spaceflight test is targeting May 22, following the completion of a maintenance review of its carrier aircraft that threatened to delay the flight.

“Following a detailed inspection and thorough analysis of our mothership, Eve, we have cleared our Spaceflight System for our upcoming flight,” Virgin Galactic CEO Michael Colglazier said in a statement.

Shares of Virgin Galactic jumped as much as 12% in premarket trading from its previous close of $17.27.

Virgin Galactic’s carrier aircraft releases its spacecraft Unity during a glide flight test.

Virgin Galactic

Virgin Galactic leadership, when the company reported first quarter results last week, revealed that the target date for the next spaceflight test was under evaluation due to a possible maintenance issue with VMS Eve, the aircraft that carries the spacecraft before launch.

This is a developing story. Check back for updates.

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