Aerospace and Defense

AP News | |

The Federal Aviation Administration said Thursday that Virgin Galactic cannot launch anyone into space again until an investigation is complete into a mishap that occurred during July’s flight with founder Richard Branson.

The ban came as Virgin Galactic announced plans to launch three Italian researchers to the edge of space in a few weeks.

AP News | |

Peloton’s shares skidded in aftermarket trading Thursday after the exercise bike and treadmill company posted a loss for its most-recent quarter, showed slower revenue growth, and cut the price of its most popular product.

Peloton Interactive Inc. reported a net loss of $313.2 million in the quarter that ended June 30. That compared to a profit of $89.1 million the same period last year. A portion of the latest quarter’s loss stemmed from the company having to recall its treadmill machine after it was linked to a death of a child and numerous injuries.

Kimberly Redmond | |

Virgin Galactic Holdings filed to sell up to $500 million in common stock to investors Monday morning, just a day after its billionaire founder Richard Branson completed a historic flight to the edge of space and back.

In its shelf filing with the US Securities and Exchange Commission, Virgin Galactic named Credit Suisse, Morgan Stanley and Goldman Sachs as agents for the deal.

Reuters | |

Airbus shares rose sharply on Friday after the planemaker confirmed a surge of deliveries in June, bringing the total number of aircraft handed over in the first half of the year to 297.

Deliveries, which have been recovering from a pandemic-related slump, rose 52% in the first six months from 196 at the mid-point of 2020 and compare with a total of 389 in the first half of 2019 before the coronavirus crisis crippled air travel.

Reuters | |

Honeywell International Inc said on Friday sales at its aerospace business would trend at the lower end of its full-year forecast due to a slow recovery in its high-margin commercial aftermarket sales business, sending shares down 3%.

Honeywell, which makes aircraft parts for planes manufactured by Boeing Co and Canada's Bombardier Inc, saw its revenue tumble after the COVID-19 pandemic brought air travel to a standstill.

AP News | |

Airlines pulled dozens of Boeing Max 737s out of service for inspections after the aircraft maker told them about a possible electrical problem, the latest setback for the plane.

Boeing said Friday that the issue affected planes used by 16 airlines. The company did not say how many planes are affected or how long it will take for inspections and, if necessary, repairs.