The bankruptcy of Virgin Orbit is the failure of British space exploration

The bankruptcy of Virgin Orbit followed a few months after the failure of the space mission. The company that planned to launch the satellites was founded by a billionaire.

The bankruptcy of a California firm is accompanied by a sale of assets. More than $36 million has been generated from operations. A mind-boggling amount for some, xrust writes, is actually 1% of the value that appeared in the 2021 reports. They sparkled with $ 3.5 billion.

The satellite launch company was created with the prospect of developing space tourism. Already in 2021, the founder made a suborbital flight, ahead of competitor Amazon Jeff Bezos.

The company adapted an aircraft called Cosmic Girl, a version of the Boeing 747, for rocket launches. It lifted the Virgin Orbit LauncherOne rocket closer to the stratosphere.

The company received a crushing blow at the beginning of 2023. The launch from British territory ended in failure. Witnesses were residents of Cornwall, as well as those who came from other regions of England. Then the rocket engines did not produce the necessary thrust to raise the object to the required height.

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