The Federal Aviation Administration (FAA) has granted a license to Virgin Galactic (NYSE:SPCE) to fly passengers on future spaceflights.
While the FAA previously gave Virgin Galactic a "launch license" to conduct spaceflights, the license expansion allows the company to fly what the regulator calls "spaceflight participants."
The company completed a 29-element verification and validation program for the FAA, clearing the final two FAA milestones with its most recent spaceflight test in May. The two last milestones were specific to the spacecraft’s flight control systems and inertial navigation systems.
Virgin Galactic’s stock rose above $40 U.S. a share this week after a tumultuous start to the year. Shares climbed above $60 U.S. in February and then slid to a low near $15 U.S. last month before rebounding.
Development delays have pushed back the company’s promised beginning of commercial service from mid-2020 to early 2022.
