Rocket Lab USA Inc RKLB shares are trading higher Thursday after the company announced it received Federal Aviation Administration (FAA) authorization to resume launches.
What Happened: Rocket Lab experienced an in-flight anomaly on Sept. 19 during one of the company's Electron launches. The FAA authorized Rocket Lab to resume Electron launches from its Launch Complex 1 by confirming its license remains active.
Rocket Lab is now working to finalize its investigation into what caused the anomaly to occur by working through a fault tree and trying to recreate the issue on the ground. The full review is expected to be completed in the coming weeks. Rocket Lab expects to return to flight later this quarter.
"After more than 40 launches, Electron is a proven, mature design with a well-established manufacturing process behind it, so we knew the fault was going to be something complex and extremely rare that hasn't presented in testing or flight before," said Peter Beck, founder and CEO of Rocket Lab.
"We look forward to sharing the details of the review once it is fully complete ahead of returning to flight this quarter."
See Also: Elon Musk's SpaceX Breaks Ground in Europe, Wins Key Satellite Launch Deal
RKLB Price Action: Rocket Lab shares were up 2.21% at $4.18 at the time of writing, according to Benzinga Pro.
Photo: courtesy of Rocket Lab.
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