Published by The BBC, 5 April 2023 A senior executive at Virgin Orbit has hit out at the leadership in a farewell email, telling staff at the bankrupt rocket firm they "deserved better". Chief operating officer Tony Gingiss issued a lengthy apology to workers while blasting his fellow managers for
By Kalyeena Makeortoff, Published by The Guardian, 4 April 2023 Move by firm founded by Sir Richard Branson comes days after 85% cut of workforce announced Virgin Orbit, the satellite launch company founded by the billionaire Sir Richard Branson, has filed for bankruptcy protection in the US after last-ditch efforts
Published by Seeking Alpha, 23 March 2023 Summary Virgin Galactic Holdings is still burning through cash at an alarming rate. And a really important point will be whether they can meet their Q2 start date. If they have to postpone it again, combined with further shareholder dilution, this would probably
By Channing Reid, Published by Simple Flying, 21 March 2023 The company is desperately searching for a lifeline. Bankruptcy could become a reality for satellite launch provider Virgin Orbit as soon as this week. The US-based group is reportedly scrambling to find a funding source to avoid insolvency. Last week,
By Tim Fernholz, Published by qz.com, 19 March 2023 Rocket makers that emerged from the venture capital ecosystem recently spent an anxious weekend waiting on the outcome of Silicon Valley Bank’s failure, but their latest troubles have no connection to with the lender’s collapse. Astra Space (ASTR) is now fighting
By Alex Lawson, Published by the BBC, 16 March 2023 Satellite launch company hunts for funding lifeline following failed attempt from UK soil Virgin Orbit has paused its operations and furloughed its workforce as it hunts for a funding lifeline. The satellite launch company, based in California, will put all
By Joey Roulette, Published by dunyanews, 1 March 2023 WASHINGTON (Reuters) - Virgin Galactic Holdings Inc (SPCE.N) has completed a lengthy upgrade period for its centrepiece tourist spacecraft, with commercial service on track to begin in the second quarter of 2023, the company said on Tuesday. The company, founded by
By Sam Boughedda, Published by Investing.com, 1 March 2023 Virgin Galactic Holdings (NYSE:SPCE) shares are trading lower early Wednesday after they missed fourth quarter earnings expectations. The spaceflight company posted a loss per share of $0.55 on revenue of $870K. Analysts expected a loss per share of $0.51, however, revenue
