Virgin Orbit is the space startup that had a simple but promising idea – at least on paper. Because the company wanted to pack a payload into a rocket that was mounted on a converted Boeing 747. The aircraft should bring the rocket to the highest possible altitude, only then should it make its way into space. In this way one wanted to establish a cheap way of space travel, since one saves the launch of a rocket from the ground and “escapes” a significant part of the gravitation.
Technical and financial problems
In practice, however, this turned out to be much more complicated than expected, so Virgin Orbit struggled with major problems. These were not only technical challenges, but above all financial ones. Commercial operation was previously not possible. In short: money was wasted, a recent round of financing failed.
Now the company is probably drawing a final line. Because CEO Dan Hart has informed employees that operations will be discontinued “for the foreseeable future”, this can undoubtedly be read as the final decision. “Unfortunately, we have not been able to secure the funding to set this company on a clear path.” How CNBC reports that Virgin Orbit will lay off all but 100 of its staff, which is 90 percent of the workforce. “We have no choice but to make immediate, drastic and extremely painful changes,” Hart said at a staff meeting announcing the job cuts.
Virgin Orbit wants to provide all employees with severance packages, and as many as possible should also be accommodated at sister company Virgin Galactic. However, it is questionable whether they have a long future ahead of them there, because even with the space tourism company, things are anything but smooth.
See also:
Space, Astronautics, Rocket, Rocket Launch, Virgin Orbit, LauncherOne
Virgin Orbit
