Virgin Orbit’s outgoing COO Tony Gingiss had some tough words for his fellow company leaders in a company-wide email obtained by news channel CNBC. The New York NASDAQ index is also suspending the company’s stock listing, effective April 13th. Although Gingiss doesn’t name CEO Dan Hart by name in his memo, or main backer Sir […]
Barely 18 months ago, Virgin Orbit was valued at $3.7 billion. Its share price on March 31st valued the aircraft-based rocket launch business as being worth just $0.20 per share, and a market capitalisation of just $66 million. There seems little prospect of the business escaping bankruptcy. Virgin Orbit has laid off almost all of […]
Sir Richard Branson’s Virgin Galactic business has reported a significant trading loss for 2022. The company said it remained “on track” to start carrying paying passengers in its space tourism business despite racking up $500 million in losses last year. The losses, specifically at Virgin Galactic Holdings, amount to $500 million compared to a loss […]
A UK all-party parliamentary Science and Technology Select Committee, headed by Greg Clark MP, heard witnesses describe the British approach to satellite launches as being “toxic” and a “disaster” with regards to future space launches. The committee heard from senior figures at Wales-based Space Forge which lost one of its small satellites on the recent […]
Virgin Orbit lost its LauncherOne rocket on January 9th when its second stage failed to operate correctly. CEO Dan Hart – speaking on a panel at the SmallSat Symposium in California – said that a small, and inexpensive part, might have been the cause. The problem flight took place from Spaceport Cornwall in Newquay, Cornwall […]
Virgin Orbit has won an extra launch contract from nano-satellite satellite builder SatRev. Virgin has already successfully orbited four craft for SatRev from Virgin’s base in the Mojave Desert. The new launch agreement covers a number of satellites and provides Poland-based SatRev with the flexibility to launch 500 kg. over multiple launches to a variety […]
Sir Richard Branson’s Virgin Orbit satellite launch business has raised a financial stop-gap of $10 million (€9.1m), according to a filing with the US Securities & Exchange Commission (SEC) on January 30th. The cash comes from a sister – but separate – company, Virgin Investments Limited (VIL), the investment arm of the Branson’s Virgin Group. […]
24i, the end-to-end video streaming expert, has promoted David Brown to Chief Technology Officer. As the newest member of the executive team, Brown is focused on developing the right technology and products to advance the video streaming user experience, increase engagement and reduce costs for customers. Before establishing his expertise as Senior Scientist at 24i, […]
Virgin Orbit has reported that its Cosmic Girl launch from Cornwall on January 9th “ultimately fell short of reaching its target orbit”. The company admitted that the effort was not a moment to remember. Investors shared the sentiment and sent Virgin Orbit Holdings share price on the Nasdaq exchange crashing down 22 per cent on […]
Virgin Orbit has received the final licences from the UK’s Civil Aviation Authority (CAA) to commence launches from Spaceport Cornwall, in Newquay, UK. The CAA said that Sir Richard Branson’s company demonstrated it has “taken all reasonable steps to ensure safety risks arising from launch activities are as low as reasonably practicable”. Virgin Orbit could […]