Satellite launch business Virgin Orbit, backed by Sir Richard Branson, is urgently looking for more cash to stay in business. Virgin Orbit suspended all its activity – and stopped paying staff – ten days ago on March 16th while it sought fresh funding. The market is awaiting confirmation – one way or another – as […]
Virgin Orbit, the Sir Richard Branson-backed rocket launching business, is suspending operations and payments to staff as it seeks fresh funding. Virgin Orbit has ‘furloughed’ all staff according to business news channel CNBC, and the situation confirmed by senior staff. Shares in Virgin Orbit crashed 33 per cent on March 15th and closed at just […]
Sir Richard Branson’s Virgin Galactic sub-orbital flight plan has slipped further. It will not resume flights on its VSS Unity spaceplane until Q2 2023. Virgin says its upgrades to its SpaceShipTwo aircraft are taking longer than expected. It had previously stated that commercial flights would take place during Q1 2023. Virgin’s main task is work […]