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• Shares of the space tourism company fell nearly 2% in extending trading
Virgin Galactic Holdings Inc (NYSE: SPCE) said on Thursday it will delay the launch of its commercial space flight service to the first quarter of 2023.
Shares of the space tourism company fell nearly 2% in extending trading.
The company said the delay is caused due to supply chain constraints and labor shortage.
"We look forward to returning to space in the fourth quarter and launching commercial service in the first quarter of next year," Chief Executive Officer Michael Colglazier said.
Virgin Galactic had earlier planned to launch the commercial space flight service in the fourth quarter of 2022.
Quarterly results
The company, founded by billionaire Richard Branson, reported net loss stood of $93.1 million during the first quarter of 2022, compared to a loss of $129.7 million, a year ago.
Virgin Galactic beat revenue estimates in the quarter.
Picture Credits: Reuters
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