aabarinvestments
-
Bankrupt Virgin Orbit Sells Scraps at Auction, Including Its Big Plane
The ongoing saga of Virgin Orbit’s ongoing crash and burn appears to have finally come to an end. Assets from the satellite launch company, founded by British entrepreneur Richard Branson, have officially been sold off at auction, with some major spaceflight players picking up the crumbs.
-
Virgin Orbit Extends Workers’ Furlough After Reportedly Failing to Secure Rescue Deal
Private launch company Virgin Orbit is still seeking new funding to help resume its operations after deal negotiations reportedly failed over the weekend.
-
Virgin Orbit Suspends Operations and Furloughs Nearly All Staff
Virgin Orbit is pausing all impending operations after announcing it is furloughing the majority of its staff in a companywide effort to cut costs and secure investor funding. The company informed its staff of the furloughs at a meeting on Wednesday, telling employees they would receive further information next week, according to an unnamed source,…
-
Virgin Orbit Rocket Crashes During First UK Orbital Launch Attempt
Britain’s first orbital launch ended in a disappointing failure after Virgin Orbit’s LauncherOne rocket suffered an anomaly, destroying the seven payloads on board.