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Richard Branson ends Virgin Orbit operations after UK space mission failure | Science & Tech News
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Richard Branson’s Virgin Orbit has announced it will be shutting down. It comes a few months after a space mission ended in disappointment, when a rocket carrying the first satellites launched from the UK failed to reach orbit and was lost. On Tuesday, the firm revealed it was closing down after its assets were sold […]
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Virgin Orbit delays bid deadline in scramble to find rescuer | Business News
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Virgin Orbit has pushed back the deadline for rescue bids as the commercial satellite venture founded by Sir Richard Branson scrambles to avert bankruptcy. Sky News has learnt that the company and its advisers have told would-be buyers of the company that they must now submit final offers by May 19, several days later than […]
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Virgin Orbit sacks 85% of workforce and ceases operations ‘for foreseeable future’ | UK News
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Sir Richard Branson’s Virgin Orbit has said it is laying off 85% of its staff and will cease operations for the foreseeable future. The satellite launch company, which is 75%-owned by the British billionaire’s Virgin Group, was unable to secure new funding from investors. Back in January, the company failed to complete the first-ever satellite […]
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Virgin Orbit plans for insolvency amid rescue talks with investors | Business News
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Virgin Orbit has begun drawing up detailed contingency plans for its insolvency days after halting its operations and furloughing its workforce. Sky News has learnt that the commercial space satellite venture founded by Sir Richard Branson‘s Virgin Group is working with Alvarez & Marsal (A&M) and Ducera, two restructuring firms, on fallback plans in the […]
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Virgin Orbit halts operations with almost all staff set to be furloughed | Business News
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Virgin Orbit will pause all operations – with almost all staff at the satellite launch company expected to be furloughed. The company made the announcement after the first satellite mission from UK soil failed to reach orbit earlier this year. Chief executive Dan Hart told staff in a meeting on Wednesday that the furlough was […]
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Virgin Orbit explains first satellite mission from UK failed to reach orbit due to rocket fuel error | Science & Tech News
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The first satellite mission from UK soil failed to reach orbit last month because a rocket fuel filter had become dislodged, Virgin Orbit has said. Virgin Orbit sent up a jumbo jet carrying the rocket from Cornwall on 9 January. But excitement turned to disappointment when the rocket failed to deploy its payload of nine […]
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LauncherOne: Virgin Orbit reveals why UK’s first rocket launch failed as it plans further attempts | Science & Tech News
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The first rocket launch from UK soil failed because of a premature shutdown in the rocket that prevented LauncherOne from reaching orbit, Virgin Orbit has said. The opening part of the mission went according to plan, the company said, as its plane took off from Spaceport Cornwall, Britain’s first such site, at Newquay Airport. A […]
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Virgin Orbit shares crash after failure of first UK space launch | Business News
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Shares in Virgin Orbit, the company behind the failed first UK space launch fell by more than a quarter at the market open in the US, greater than the 20% drop seen in pre-market trading. Stocks fell in value from $2.01 (£1.65) at the close of trading on Monday night, to $1.50 (£1.23) when US […]
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Virgin Orbit awarded licences for UK’s first space launch | Business News
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Space launches are set to take place in the UK after Sir Richard Branson’s Virgin Orbit was granted licences to operate them. The decision was described as a “milestone” by the space regulator, the Civil Aviation Authority (CAA). Virgin Orbit is planning a launch from Spaceport Cornwall at Cornwall Airport Newquay in the coming weeks. […]