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Virgin Obit: Launch company files for bankruptcy in US

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Just as namesake ISP Virgin Media* falls silent out of respect

Space launch outfit Virgin Orbit has filed for bankruptcy in the US just days after suspending operations and laying off most of its staff. The company said it intends to continue trying to sell the business while under Chapter 11 protection.

Virgin Orbit was set up as a spin-off from Virgin Galactic in 2017 to offer a satellite launch service using a LauncherOne rocket vehicle that is carried to high altitude and deployed from under the wing of a modified Boeing 747 named Cosmic Girl. This was intended to greatly reduce the cost of launching small satellites into space.

Virgin Orbit CEO today Dan Hart praised his team for bringing into operation a new and innovative method of launching satellites, and noted that the company had performed several successful missions, including launching 33 satellites into orbit.

 

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