Virgin Orbit was meant to pave the way for a new UK space industry, but after a failed launch in January the company has shut down. What happens next?
Virgin Orbit, a space start-up founded by UK entrepreneur Richard Branson, has been shut down. Here’s what you need to know.in January, which was due to be the first-ever orbital launch from the UK. Virgin Orbit’s LauncherOne rocket had been carrying nine satellites, including hardware for the US National Reconnaissance Office, but failed to reach orbit.
This setback – despite coming after a string of successful launches – caused its share price to fall, making it impossible for the company to secure more funding, and it started to suffer cash-flow problems. The company had never reached profitability.Eventually, it was forced to lay off 85 per cent of its staff – around 675 people – in March. The company limped on with a small team, looking at various options to remain afloat.
The closure marks a rapid descent for a company that publicly listed on the Nasdaq stock exchange late in 2021 with a valuation of $3.7 billion.The company’s modified 747-400 jet Cosmic Girl took off from Spaceport Cornwall carrying the LauncherOne rocket under its wing. Once airborne, the rocket dropped away to fire its first stage and successfully accelerated to about 12,900 kilometres per hour.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stratolaunch Buys Virgin Orbit's Rocket-Launching 747With Virgin Orbit going through bankruptcy, other launch providers are purchasing various parts of the business. This week we learned that Stratolaunch’s bid to buy Virgin Orbit’s modified Boeing 747 carrier aircraft has been approved by the U.S Bankruptcy Court, enabling Stratolaunch to use the 747 to carry its Talon-A hypersonic vehicles, ideally beginning operation … Continue reading 'Stratolaunch Buys Virgin Orbit's Rocket-Launching 747'
Read more »
Earth may have debris from alien star systems trapped in its orbit, new research suggestsA new study questions if our planet could capture rocky and icy visitors from outside the solar system — and how scientists could spot them.
Read more »
Satellite campuses of far-flung colleges in orbit around nation’s capitalPublic and private universities from across the country are racing to open satellite campuses around the White House and the U.S. Capitol, transforming empty office space in the nation’s capital into a public policy mega-campus.
Read more »
China Launches Three Astronauts, Including First Civilian, Into OrbitThe liftoff showcases the nation’s expanding capabilities in space at a time when mounting military and technological competition with the U.S. is stoking geopolitical tension.
Read more »
Close Encounters of the Interstellar Kind: Examining the Capture of Interstellar Objects in Near Earth OrbitRecent observations and detections of interstellar objects (ISOs) passing through the solar system have sparked a wave of interest into these objects. Although rare, these ISOs can be captured into bound orbits around the Sun. In this study, we investigate the novel idea of capture of ISOs into near-Earth orbits and find that a steady population of ISOs exists among the current population of Near Earth Objects (NEOs). Using numerical simulations, we find that the capture of ISOs into near-Earth orbits is dominated by Jupiter which is $10^4\times$ more efficient in capturing ISOs. Captures are more likely to occur for objects with high eccentricities and low inclinations. We also investigate the stability of captured ISOs and find that they are generally unstable and survive shorter than known NEOs with a half-life time of $\approx 0.05$ Myr and are ejected from the solar system due to interactions with other planets or the Sun. Our results have important implications for understanding the population of interstellar objects in the solar system and possible future detection. We find that about $1-2$ $50-70$ m sized captured ISOs among NEOs would be detectable by LSST over its lifetime. By detecting and studying captured interstellar objects, we can learn about the properties and origins of such objects, and the formation and evolution of exoplanetary systems and even our solar system.
Read more »
Watch SpaceX launch 52 Starlink satellites to orbit early WednesdayLiftoff is scheduled for 2:02 a.m. ET on Wednesday (May 31).
Read more »