While he defended the company’s “unprecedented performance” in developing a rocket that is “air-launched” by dropping from the wing of a flying Boeing 747 and then firing its engines, he said in his first interview since the company filed for Chapter 11 that some key financial and operational missteps led the company to burn through hundreds of millions of dollars while producing just a handful of successful launches.
He noted that Virgin Orbit had raised more than $1 billion and that suitors might be looking to “obtain assets at a sale price.” The Pentagon’s interest in the company for hypersonics testing and missile defense could be attractive as well, he said. , Branson crowed that “this magnificent flight is the culmination of many years of hard work and will also unleash a whole new generation of innovators on the path to orbit.”many small launch companies. It went public through a special acquisition company — or SPAC, as it is known — just as the investment vehicle was falling out of favor with investors. Virgin Orbit fell well short of raising the anticipated $382 million.
please can i fly to space with the company that lost 85% of its staff in bankruptcy