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<p>Virgin Orbit, the satellite launch company owned by billionaire Richard Branson will cease operations permanently, just months after filing for bankruptcy. The company, which aimed to send small satellites into space, revealed it was closing for good after auctioning its main assets for just over $36 million.&nbsp;</p>

<p>The auctioned asset sum managed by the California-based company is barely one per cent of the value it reached at its peak in late 2021 when Wall Street pegged it around $3.5 billion.&nbsp;&nbsp;</p>

<p>Rocket Lab, a growing launch start-up with an office across the road from Virgin Orbit's headquarters in California brought the company's rocket factory and equipment for $16.1 million. The converted 747 jets were sold to Startolaunch - the world's biggest aircraft maker for an astonishingly low $17 million.&nbsp;</p>

<p>The company's launch site and its lease in the Mojave desert were bought for $2.7 million by a third space company, Launcher Inc.&nbsp;</p>

<p><a href="https://www.wionews.com/business-economy/richard-bransons-virgin-orbit-files-for-bankruptcy-578950" target="_blank"><strong>ALSO READ | Richard Branson's Virgin Orbit files for bankruptcy</strong></a></p>

<h2><b>Legacy will be remembered: Virgin Orbit</b></h2>

<p>In a statement about the impending closure, Virgin Orbit thanked its employees and stakeholders and said the company will be remembered for its "groundbreaking technologies".&nbsp;</p>

<p>“Throughout its history, Virgin Orbit has been at the forefront of innovation and has made substantial contributions to the field of commercial rocket launch. Virgin Orbit's legacy in the space industry will forever be remembered,” the company said.</p>

<p>"The combined total proceeds were determined by a rigorous and competitive auction which maximises value for the estate and minimizes the remaining duration of the Company’s restructuring," it added.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/richard-bransons-virgin-orbit-files-for-chapter-11-bankruptcy-579048"><strong>WATCH |&nbsp;</strong></a><strong><a href="https://www.wionews.com/videos/virgin-orbit-company-ceases-operations-for-a-week-seeks-additional-funding-572512" target="_blank">Richard Branson's Virgin orbit files for Chapter 11 bankruptcy</a></strong></p>

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<h2><strong>Branson's dream goes bust</strong></h2>

<p>Prior to filing bankruptcy in the US Bankruptcy Court for the District of Delaware, the company laid off roughly 85 per cent of its 750 employees. According to reports, the remaining employees will be laid off within the next week.&nbsp;</p>

<p>"At this stage, we believe that the Chapter 11 process represents the best path forward to identify and finalise an efficient and value-maximising sale," Virgin Orbit CEO Dan Hart said in a statement at the time.&nbsp;</p>

<p>Virgin Orbit went public in 2021 as an extension of Branson's space tourism firm Virgin Galactic, which was formed in 2017. The company undertook its sixth mission in January with its centrepiece LauncherOne rocket. However, the rocket launch was a catastrophe as it failed to reach orbit while the payload aboard plunged into the ocean.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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Virgin Orbit, the satellite launch company owned by billionaire Richard Branson will cease operations permanently, just months after filing for bankruptcy. The company, which aimed to send small satellites into space, revealed it was closing for good after auctioning its main assets for just over $36 million.

Virgin Orbit, the satellite launch company owned by billionaire Richard Branson will cease operations permanently, just months after filing for bankruptcy. The company, which aimed to send small satellites into space, revealed it was closing for good after auctioning its main assets for just over $36 million. The auctioned asset sum managed by the California-based company is barely one per cent of the value it reached at its peak in late 2021 when Wall Street pegged it around $3.5 billion. Rocket Lab, a growing launch start-up with an office across the road from Virgin Orbit's headquarters in California brought the company's rocket factory and equipment for $16.1 million. The converted 747 jets were sold to Startolaunch - the world's biggest aircraft maker for an astonishingly low $17 million. The company's launch site and its lease in the Mojave desert were bought for $2.7 million by a third space company, Launcher Inc. ALSO READ | Richard Branson's Virgin Orbit files for bankruptcy Legacy will be remembered: Virgin Orbit In a statement about the impending closure, Virgin Orbit thanked its employees and stakeholders and said the company will be remembered for its "groundbreaking technologies". “Throughout its history, Virgin Orbit has been at the forefront of innovation and has made substantial contributions to the field of commercial rocket launch. Virgin Orbit's legacy in the space industry will forever be remembered,” the company said. "The combined total proceeds were determined by a rigorous and competitive auction which maximises value for the estate and minimizes the remaining duration of the Company’s restructuring," it added. WATCH | Richard Branson's Virgin orbit files for Chapter 11 bankruptcy × Branson's dream goes bust Prior to filing bankruptcy in the US Bankruptcy Court for the District of Delaware, the company laid off roughly 85 per cent of its 750 employees. According to reports, the remaining employees will be laid off within the next week. "At this stage, we believe that the Chapter 11 process represents the best path forward to identify and finalise an efficient and value-maximising sale," Virgin Orbit CEO Dan Hart said in a statement at the time. Virgin Orbit went public in 2021 as an extension of Branson's space tourism firm Virgin Galactic, which was formed in 2017. The company undertook its sixth mission in January with its centrepiece LauncherOne rocket. However, the rocket launch was a catastrophe as it failed to reach orbit while the payload aboard plunged into the ocean. (With inputs from agencies) WATCH WION LIVE HERE:

Richard Branson's Virgin Orbit auctions remaining assets as company set to fold

<p>The bankruptcy filing of Richard Branson's Virgin Orbit has dealt a significant blow to Japan's plans of building a domestic space industry, including the Kyushu-based spaceport designed to attract tourism.&nbsp;</p>

<p>Oita prefecture had partnered with Virgin Orbit in 2020 to create its first Asian spaceport at Oita Airport using a Boeing 747 for horizontal rocket launches. However, the original plan to launch small satellites from Oita as early as last year never occurred, leading to another setback in Japan's attempt to become a player in the crowded market for commercial satellite launches after two recent rocket launch failures.&nbsp;</p>

<p>Two Japanese companies, ANA Holdings unit All Nippon Airways Trading Co and little-known Japanese satellite development start-up iQPS Inc, emerged among the top six creditors when Virgin Orbit filed for Chapter 11 bankruptcy protection. ANA, owed $1.65 million, had entered into a provisional deal with Virgin Orbit in 2021 for 20 flights of its LauncherOne rocket at the Oita spaceport. Fukuoka-based iQPS had paid a $5.2 million deposit to launch its small, lightweight constellation satellites weighing around 100 kilograms.&nbsp;</p>

<p>Oita prefecture had estimated that the spaceport would produce economic benefits worth about $97 million dollars in the region over the five years from the initial launch, attracting around 240,000 tourists. Local businesses created alien-related souvenirs, from alien passports to "E.T." bicycles, in anticipation of the spaceport's opening. Locals are still hopeful that a spaceport will eventually emerge, and an economics lecturer at Oita University noted that there are other companies and competitors besides Virgin Orbit that are considering horizontal launches, so Oita still has many options to re-enter into a contract with them.&nbsp;</p>

<p>While Japan has big ambitions for space, recent setbacks such as the failed medium-lift H3 rocket in March and the solid-fuel Epsilon rocket in October have some experts urging Japan to shift the focus of its space industry. Cyber and space expert Jun Nagashima suggested that Japan is concentrating too much on launches and that it would be better for Japan to compete in different activities and areas in space, especially with SpaceX coming out with affordable rockets that can be used repeatedly.&nbsp;</p>

<p>Despite the challenges, Japan's hopes of building a domestic space industry and attracting tourists to its spaceports remain intact, and the country will likely continue to pursue new opportunities and partnerships in the rapidly evolving space sector.</p>

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The bankruptcy filing of Richard Branson's Virgin Orbit has dealt a significant blow to Japan's plans of building a domestic space industry, including the Kyushu-based spaceport designed to attract tourism.

The bankruptcy filing of Richard Branson's Virgin Orbit has dealt a significant blow to Japan's plans of building a domestic space industry, including the Kyushu-based spaceport designed to attract tourism. Oita prefecture had partnered with Virgin Orbit in 2020 to create its first Asian spaceport at Oita Airport using a Boeing 747 for horizontal rocket launches. However, the original plan to launch small satellites from Oita as early as last year never occurred, leading to another setback in Japan's attempt to become a player in the crowded market for commercial satellite launches after two recent rocket launch failures. Two Japanese companies, ANA Holdings unit All Nippon Airways Trading Co and little-known Japanese satellite development start-up iQPS Inc, emerged among the top six creditors when Virgin Orbit filed for Chapter 11 bankruptcy protection. ANA, owed $1.65 million, had entered into a provisional deal with Virgin Orbit in 2021 for 20 flights of its LauncherOne rocket at the Oita spaceport. Fukuoka-based iQPS had paid a $5.2 million deposit to launch its small, lightweight constellation satellites weighing around 100 kilograms. Oita prefecture had estimated that the spaceport would produce economic benefits worth about $97 million dollars in the region over the five years from the initial launch, attracting around 240,000 tourists. Local businesses created alien-related souvenirs, from alien passports to "E.T." bicycles, in anticipation of the spaceport's opening. Locals are still hopeful that a spaceport will eventually emerge, and an economics lecturer at Oita University noted that there are other companies and competitors besides Virgin Orbit that are considering horizontal launches, so Oita still has many options to re-enter into a contract with them. While Japan has big ambitions for space, recent setbacks such as the failed medium-lift H3 rocket in March and the solid-fuel Epsilon rocket in October have some experts urging Japan to shift the focus of its space industry. Cyber and space expert Jun Nagashima suggested that Japan is concentrating too much on launches and that it would be better for Japan to compete in different activities and areas in space, especially with SpaceX coming out with affordable rockets that can be used repeatedly. Despite the challenges, Japan's hopes of building a domestic space industry and attracting tourists to its spaceports remain intact, and the country will likely continue to pursue new opportunities and partnerships in the rapidly evolving space sector. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Virgin Orbit bankruptcy casts shadow over Japan's space dreams

<p>Richard Branson's Virgin Orbit Holdings filed for Chapter 11 bankruptcy in the US on Tuesday. The satellite launch company failed to secure new investment after a rocket launch failed in January. The California-based company had stopped operations weeks ago and lodged the filing in the US Bankruptcy Court for the District of Delaware. It is trying to secure a buyer for its assets.&nbsp;</p>

<p>Virgin Orbit laid off roughly 85 per cent of its 750 employees last week.</p>

<p>"At this stage, we believe that the Chapter 11 process represents the best path forward to identify and finalise an efficient and value-maximising sale," Virgin Orbit CEO Dan Hart said in a statement.</p>

<p>Hart added that the company had "taken great efforts" to address its finances and secure more funding, but "we ultimately must do what is best for the business".</p>

<p>Also Read |&nbsp;<a href="https://www.wionews.com/world/woman-falls-to-death-from-balcony-of-virgin-voyages-cruise-ship-578961">Woman falls to death from balcony of Virgin Voyages cruise ship</a></p>

<p>Assets worth $243 million were listed in the filing, besides its total debt as being $153.5 million as of September 30.&nbsp;</p>

<p>Virgin Orbit went public in 2021 and the finances it raised were $255 million less than expected. It is an extension of Branson's space tourism firm Virgin Galactic and was formed in 2017. Virgin Orbit air-launches rockets from beneath a modified Boeing 747 plane to send satellites into orbit.</p>

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<p>&nbsp;</p>

<p>It undertook its sixth mission in January with its centrepiece LauncherOne rocket, the first rocket launch from UK soil, but it failed to reach orbit and sent its payload of US and UK intelligence satellites plunging into the ocean.</p>

<p>The Virgin Group has an approximately 75 per cent share in Virgin Orbit. It has been finding it hard to secure new funding after the January rocket failure. It was forced to halt operations and furlough nearly all its employees on March 15.</p>

<p><em>(With inputs from agencies)&nbsp;</em></p>

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Richard Branson's Virgin Orbit Holdings filed for Chapter 11 bankruptcy in the US on Tuesday. The satellite launch company failed to secure new investment after a rocket launch failed in January.

Richard Branson's Virgin Orbit Holdings filed for Chapter 11 bankruptcy in the US on Tuesday. The satellite launch company failed to secure new investment after a rocket launch failed in January. The California-based company had stopped operations weeks ago and lodged the filing in the US Bankruptcy Court for the District of Delaware. It is trying to secure a buyer for its assets. Virgin Orbit laid off roughly 85 per cent of its 750 employees last week. "At this stage, we believe that the Chapter 11 process represents the best path forward to identify and finalise an efficient and value-maximising sale," Virgin Orbit CEO Dan Hart said in a statement. Hart added that the company had "taken great efforts" to address its finances and secure more funding, but "we ultimately must do what is best for the business". Also Read | Woman falls to death from balcony of Virgin Voyages cruise ship Assets worth $243 million were listed in the filing, besides its total debt as being $153.5 million as of September 30. Virgin Orbit went public in 2021 and the finances it raised were $255 million less than expected. It is an extension of Branson's space tourism firm Virgin Galactic and was formed in 2017. Virgin Orbit air-launches rockets from beneath a modified Boeing 747 plane to send satellites into orbit. × It undertook its sixth mission in January with its centrepiece LauncherOne rocket, the first rocket launch from UK soil, but it failed to reach orbit and sent its payload of US and UK intelligence satellites plunging into the ocean. The Virgin Group has an approximately 75 per cent share in Virgin Orbit. It has been finding it hard to secure new funding after the January rocket failure. It was forced to halt operations and furlough nearly all its employees on March 15. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Richard Branson's Virgin Orbit files for bankruptcy

British billionaire Richard Branson's Virgin Orbit Holdings filed for Chapter 11 bankruptcy on Tuesday in the United States after failing to secure new investment.

Richard Branson's Virgin orbit files for Chapter 11 bankruptcy

<p>Virgin Orbit, the rocket company of British billionaire Sir Richard Branson, announced that it is laying off 85 per cent of its staff after the firm failed to get new investment.</p>

<p>As per the media reports, the firm's operations will remain ceased for the foreseeable future. This comes weeks after the operations of the company were paused in an attempt to shore up its finances.</p>

<p>Earlier in 2023, Virgin Orbit was not able to complete the first satellite launch, using its rocket, from UK soil.</p>

<p><strong>ALSO READ |</strong><a href="https://www.wionews.com/business-economy/virgin-orbit-suspends-operations-furloughs-entire-workforce-as-financial-woes-bite-572587"> Virgin Orbit suspends operations, furloughs entire workforce as financial woes bite</a></p>

<p>The shares of the company fell by more than 44 per cent during after-hours trading in New York on Thursday.</p>

<p>In a US regulatory filing, the firm said it made the decision "in order to reduce expenses in light of the company's inability to secure meaningful funding."</p>

<p>Virgin Orbit's layoffs will impact around 675 employees who "are located in all areas of the company."</p>

<p>It stated that $10.9 million (£8.8 million) has been injected by Sir Richard's investment firm Virgin Investments into Virgin Orbit "to fund severance and other costs related to the workforce reduction".</p>

<p><strong>WATCH | Richard Branson's rocket company Virgin Orbit to layoff 675 employees</strong></p>

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<p>Virgin Orbit said that, as per estimates, the final payments to the laid-off employees and other costs will sum up to around $15 million.</p>

<p>The announcement comes amid media reports that the company's head has informed its staff about the suspension of all activities till further notice.</p>

<p>"We have no choice but to implement immediate, dramatic and extremely painful changes," said Virgin Orbit chief executive Dan Hart in a meeting with employees, as per CNBC.</p>

<p><em>(With inputs from agencies)</em></p>

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Virgin Orbit, the rocket company of British billionaire Sir Richard Branson, announced that it is laying off 85 per cent of its staff after the firm failed to get new investment.

Virgin Orbit, the rocket company of British billionaire Sir Richard Branson, announced that it is laying off 85 per cent of its staff after the firm failed to get new investment. As per the media reports, the firm's operations will remain ceased for the foreseeable future. This comes weeks after the operations of the company were paused in an attempt to shore up its finances. Earlier in 2023, Virgin Orbit was not able to complete the first satellite launch, using its rocket, from UK soil. ALSO READ | Virgin Orbit suspends operations, furloughs entire workforce as financial woes bite The shares of the company fell by more than 44 per cent during after-hours trading in New York on Thursday. In a US regulatory filing, the firm said it made the decision "in order to reduce expenses in light of the company's inability to secure meaningful funding." Virgin Orbit's layoffs will impact around 675 employees who "are located in all areas of the company." It stated that $10.9 million (£8.8 million) has been injected by Sir Richard's investment firm Virgin Investments into Virgin Orbit "to fund severance and other costs related to the workforce reduction". WATCH | Richard Branson's rocket company Virgin Orbit to layoff 675 employees Virgin Orbit said that, as per estimates, the final payments to the laid-off employees and other costs will sum up to around $15 million. The announcement comes amid media reports that the company's head has informed its staff about the suspension of all activities till further notice. "We have no choice but to implement immediate, dramatic and extremely painful changes," said Virgin Orbit chief executive Dan Hart in a meeting with employees, as per CNBC. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Sir Richard Branson's Virgin Orbit lays off 85 per cent of employees

Virgin Orbit told nearly all of its staff to cease operations until at least next week as the rocket company, founded by British billionaire Richard Branson, works to secure additional funding. The company to reduce its headcount by about 675 employees, about 85% of its workforce, in a move to reduce expenses amid failed efforts to secure lifeline funding, The Wall Street Journal reported.

Richard Branson's rocket company Virgin Orbit to layoff 675 employees

Virgin Orbit told nearly all of its staff to cease operations until at least next week as the rocket company, founded by British billionaire Richard Branson, works to secure additional funding.

Virgin Orbit company ceases operations for a week, seeks additional funding

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<p>Virgin Orbit, the satellite launch company owned by billionaire Richard Branson, has announced it will pause all operations and furlough nearly all of its employees as it finalizes a new investment plan to pull itself out of financial difficulties.</p>

<p>The move comes after the company's mission in January to deploy nine small satellites into lower Earth orbit failed, dealing a significant blow to Virgin Orbit's business.</p>

<p>According to a source familiar with the matter, Virgin Orbit CEO Dan Hart told staff in a meeting that the furlough was intended to give the company time to finalize its investment plan.</p>

<p><strong>Also Read |&nbsp;<a href="https://www.wionews.com/science/britains-satellite-launch-fails-to-reach-orbit-after-rocket-anomaly-550889">UK’s historic satellite launch fails to reach orbit after rocket ‘anomaly’</a></strong></p>

<p>The duration of the furlough was unclear, but Hart said he would provide employees with an update by the middle of next week on when they could return. The company did not provide details on the furloughs in its statement to Reuters.</p>

<p>Virgin Orbit's shares dropped over 18 per cent to 82 cents in extended trading following the announcement.</p>

<p>However, the company said its investigation into the January mission failure was nearly complete and that its next production rocket with necessary modifications was in the final stages of integration and testing.</p>

<p><strong>Watch:&nbsp;Virgin Orbit company ceases operations, seeks additional funding</strong></p>

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<p><strong>Solid Funding</strong></p>

<p>Notwithstanding the setback, Virgin Orbit has attracted substantial finance from several sources, including a $280 million funding round in July 2020. The US Department of Defence and the UK Royal Air Force are just two of the organisations with which the corporation holds contracts.</p>

<p>The decision by Virgin Orbit to halt operations and lay off staff highlights the difficulties facing the commercial space industry, which has witnessed an increase in investment in recent years but is still extremely risky and competitive.</p>

<p>Many space firms have had trouble turning a profit, and the COVID-19 pandemic has made things even worse for them. For Virgin Orbit to succeed in its quest to become a strong competitor in the satellite launch business, the company's upcoming mission must be a success.</p>

<p>In the upcoming years, the sector is anticipated to expand significantly due to rising demand for satellite-based services such as internet connectivity, remote sensing, and navigation. In the interim, Virgin Orbit will have to negotiate a challenging financial environment as it looks to get fresh funding and reestablish itself in the industry.</p>

<p>The company likely has a long and rocky road ahead of it after the furloughs announced this week.</p>

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<p>&nbsp;</p>


Virgin Orbit, the satellite launch company owned by billionaire Richard Branson, has announced it will pause all operations and furlough nearly all of its employees as it finalizes a new investment plan to pull itself out of financial difficulties.

Virgin Orbit, the satellite launch company owned by billionaire Richard Branson, has announced it will pause all operations and furlough nearly all of its employees as it finalizes a new investment plan to pull itself out of financial difficulties. The move comes after the company's mission in January to deploy nine small satellites into lower Earth orbit failed, dealing a significant blow to Virgin Orbit's business. According to a source familiar with the matter, Virgin Orbit CEO Dan Hart told staff in a meeting that the furlough was intended to give the company time to finalize its investment plan. Also Read | UK’s historic satellite launch fails to reach orbit after rocket ‘anomaly’ The duration of the furlough was unclear, but Hart said he would provide employees with an update by the middle of next week on when they could return. The company did not provide details on the furloughs in its statement to Reuters. Virgin Orbit's shares dropped over 18 per cent to 82 cents in extended trading following the announcement. However, the company said its investigation into the January mission failure was nearly complete and that its next production rocket with necessary modifications was in the final stages of integration and testing. Watch: Virgin Orbit company ceases operations, seeks additional funding × Solid Funding Notwithstanding the setback, Virgin Orbit has attracted substantial finance from several sources, including a $280 million funding round in July 2020. The US Department of Defence and the UK Royal Air Force are just two of the organisations with which the corporation holds contracts. The decision by Virgin Orbit to halt operations and lay off staff highlights the difficulties facing the commercial space industry, which has witnessed an increase in investment in recent years but is still extremely risky and competitive. Many space firms have had trouble turning a profit, and the COVID-19 pandemic has made things even worse for them. For Virgin Orbit to succeed in its quest to become a strong competitor in the satellite launch business, the company's upcoming mission must be a success. In the upcoming years, the sector is anticipated to expand significantly due to rising demand for satellite-based services such as internet connectivity, remote sensing, and navigation. In the interim, Virgin Orbit will have to negotiate a challenging financial environment as it looks to get fresh funding and reestablish itself in the industry. The company likely has a long and rocky road ahead of it after the furloughs announced this week. WATCH WION LIVE HERE ×

Virgin Orbit suspends operations, furloughs entire workforce as financial woes bite

<p>Billionaire Richard Branson’s&nbsp;Virgin&nbsp;Orbit&nbsp;reached space on Sunday, eight months after the first demonstration flight of its air-launched rocket system failed, the company said.</p>

<p>The Long Beach, California-based company’s LauncherOne rocket successfully deployed 10&nbsp;tiny satellites in orbit for NASA.</p>

<p>The launch occurred after the Boeing 747-400 took off from Mojave Air and Space Port in the desert north of Los Angeles and flew out over the Pacific Ocean to a drop point beyond the Channel Islands.</p>

<p>"According to telemetry, LauncherOne has reached orbit!" the company announced on Twitter during the test mission, dubbed Launch Demo 2. "In both a literal and figurative sense, this is miles beyond how far we reached in our first Launch Demo."</p>

<p>The rocket, a 70-foot launcher tailored for carrying small satellites to space, aimed to place 10 tiny satellites in orbit for NASA roughly two hours into the mission, though&nbsp;Virgin&nbsp;Orbit had not confirmed whether they were deployed as planned.</p>

<p>The successful test and clean payload deployment was a needed double-win for&nbsp;Virgin&nbsp;Orbit, which last year failed its attempt to reach space when LauncherOne’s main engine shut down prematurely moments after releasing from its carrier aircraft. The shortened mission generated key test data for the company, it said.</p>

<p>Sunday’s test also thrusts&nbsp;Virgin&nbsp;Orbit into an increasingly competitive commercial space race, offering a unique “air-launch” method of sending satellites to orbit alongside rivals such as Rocket Lab and Firefly Aerospace, which have designed small-launch systems to inject smaller satellites into orbit and meet growing demand.</p>

<p>Virgin&nbsp;executives say high-altitude launches allow satellites to be placed in their intended orbit more efficiently and also minimize weather-related cancellations compared to more traditional rockets launched vertically from a ground pad.</p>

<p>Virgin&nbsp;Orbit’s government services subsidiary VOX Space LLC is selling launches using the system to the US&nbsp;military, with a first mission slated for October under a $35 million US&nbsp;Space Force contract for three missions.</p>

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Billionaire Richard Branson’s Virgin Orbit reached space on Sunday, eight months after the first demonstration flight of its air-launched rocket system failed, the company said.

Billionaire Richard Branson’s Virgin Orbit reached space on Sunday, eight months after the first demonstration flight of its air-launched rocket system failed, the company said. The Long Beach, California-based company’s LauncherOne rocket successfully deployed 10 tiny satellites in orbit for NASA. The launch occurred after the Boeing 747-400 took off from Mojave Air and Space Port in the desert north of Los Angeles and flew out over the Pacific Ocean to a drop point beyond the Channel Islands. "According to telemetry, LauncherOne has reached orbit!" the company announced on Twitter during the test mission, dubbed Launch Demo 2. "In both a literal and figurative sense, this is miles beyond how far we reached in our first Launch Demo." The rocket, a 70-foot launcher tailored for carrying small satellites to space, aimed to place 10 tiny satellites in orbit for NASA roughly two hours into the mission, though Virgin Orbit had not confirmed whether they were deployed as planned. The successful test and clean payload deployment was a needed double-win for Virgin Orbit, which last year failed its attempt to reach space when LauncherOne’s main engine shut down prematurely moments after releasing from its carrier aircraft. The shortened mission generated key test data for the company, it said. Sunday’s test also thrusts Virgin Orbit into an increasingly competitive commercial space race, offering a unique “air-launch” method of sending satellites to orbit alongside rivals such as Rocket Lab and Firefly Aerospace, which have designed small-launch systems to inject smaller satellites into orbit and meet growing demand. Virgin executives say high-altitude launches allow satellites to be placed in their intended orbit more efficiently and also minimize weather-related cancellations compared to more traditional rockets launched vertically from a ground pad. Virgin Orbit’s government services subsidiary VOX Space LLC is selling launches using the system to the US military, with a first mission slated for October under a $35 million US Space Force contract for three missions.

Virgin Galactic launches 10 satellites to orbit in landmark test flight

<p>Virgin Orbit, Richard Branson's privately-funded air-launched rocket has failed to reach space on Monday after being released from company's specially modified 747 airplanes over the Pacific Ocean.&nbsp;</p>

<p><strong>Also read:&nbsp;</strong><a href="https://www.wionews.com/world/nasa-and-spacex-brace-themselves-for-a-historic-launch-301086" hreflang="en">NASA and SpaceX brace themselves for a historic launch!</a></p>

<p>The rocket was designed to place small satellites into orbit but Virgin Orbit's two-stage LauncherOne was struck by an “anomaly” just after ignition of its kerosene-fed first stage engine.&nbsp;</p>

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<p dir="ltr" lang="en">Cosmic Girl has released LauncherOne!</p>
— Virgin Orbit (@Virgin_Orbit) <a href="https://twitter.com/Virgin_Orbit/status/1265007430267629568?ref_src=twsrc%5Etfw">May 25, 2020</a></blockquote>
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<p>"LauncherOne maintained stability after release, and we ignited our first stage engine, NewtonThree," Virgin Orbit said. "An anomaly then occurred early in first stage flight. We’ll learn more as our engineers analyze the mountain of data we collected today."</p>

<p>Boeing 747 called the "Cosmic Girl" carried the rocket and took off from Mojave Air and Space Port in California.&nbsp;</p>

<p>The "Cosmic Girl" had two people in the flight crew and two launch engineers on-board during the mission. After its failure, the company said the aircraft and its four-person crew were safe.&nbsp;</p>

<p>Monday's test flight was the first try for the company’s LauncherOne rocket to reach Earth orbit. Will Pomerantz, the vice president of Virgin Orbits said: "History is not terribly kind to maiden flights. Taking my best faith estimate, it’s about half of the maiden (rocket) flights fail. So that’s sort of the historical odds we’re against."</p>

<p>According to the imagery from National Weather Service radar in Los Angeles. the debris cloud near the drop zone of LauncherOne.&nbsp;</p>

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<p dir="ltr" lang="en">Seems the Los Angeles NEXRAD picked up what appears to be the breakup of <a href="https://twitter.com/Virgin_Orbit?ref_src=twsrc%5Etfw">@Virgin_Orbit</a>'s rocket shortly after release. (H/T <a href="https://twitter.com/wxmeddler?ref_src=twsrc%5Etfw">@wxmeddler</a>) <a href="https://t.co/bvjYPNaJZQ">pic.twitter.com/bvjYPNaJZQ</a></p>
— Steve Paluch (@BrewCityChaser) <a href="https://twitter.com/BrewCityChaser/status/1265027257799770114?ref_src=twsrc%5Etfw">May 25, 2020</a></blockquote>
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<p>Virgin Orbit said that the rocket has &nbsp;"accomplished" all pre-flight milestones according to plan. They said: “As we said before the flight, our goals today were to work through the process of conducting a launch, learn as much as we could, and achieve ignition,” Virgin Orbit said. “We hoped we could have done more, but we accomplished those key objectives today.”</p>

<p>Before the test flight Virgin Orbit's CEO and president, Dan Hart said: “You’d have to get into the technical discussion of what did we prove? What data did we get, and what data did we not get? And how could we augment it, if we needed to, with ground testing?”&nbsp;</p>

<p>“This is a test flight, so the purpose of this flight is to incrementally test the rocket and the airplane and the system as we pass through the operations,” Hart said Saturday. “So we’ll be getting data on our (propellant) load sequence, our captive carry flight out, and the full flight of the rocket after it drops through first stage flight, separation, second stage flight, and so forth.</p>

<p>“And we have telemetry stations around the world to capture the data as it comes down,” Hart said. “The data … is the product of that flight, and every increment that we learn, from the moment, that we start fueling the rocket, to flying it out, to lighting the engines, and observing the response of the system … is a huge step in the maturation of a system.”</p>

<p>SpaceX’s founder and CEO, Elon Musk tweeted after Virgin Orbit's Monday launch and shared his experience on Falcon 1.&nbsp;</p>

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<p dir="ltr" lang="en">We've confirmed a clean release from the aircraft. However, the mission terminated shortly into the flight. Cosmic Girl and our flight crew are safe and returning to base.</p>
— Virgin Orbit (@Virgin_Orbit) <a href="https://twitter.com/Virgin_Orbit/status/1265008105714155520?ref_src=twsrc%5Etfw">May 25, 2020</a></blockquote>
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Virgin Orbit, Richard Branson's privately-funded air-launched rocket has failed to reach space on Monday after being released from company's specially modified 747 airplanes over the Pacific Ocean.

Virgin Orbit, Richard Branson's privately-funded air-launched rocket has failed to reach space on Monday after being released from company's specially modified 747 airplanes over the Pacific Ocean. Also read: NASA and SpaceX brace themselves for a historic launch! The rocket was designed to place small satellites into orbit but Virgin Orbit's two-stage LauncherOne was struck by an “anomaly” just after ignition of its kerosene-fed first stage engine. Cosmic Girl has released LauncherOne! — Virgin Orbit (@Virgin_Orbit) May 25, 2020 × "LauncherOne maintained stability after release, and we ignited our first stage engine, NewtonThree," Virgin Orbit said. "An anomaly then occurred early in first stage flight. We’ll learn more as our engineers analyze the mountain of data we collected today." Boeing 747 called the "Cosmic Girl" carried the rocket and took off from Mojave Air and Space Port in California. The "Cosmic Girl" had two people in the flight crew and two launch engineers on-board during the mission. After its failure, the company said the aircraft and its four-person crew were safe. Monday's test flight was the first try for the company’s LauncherOne rocket to reach Earth orbit. Will Pomerantz, the vice president of Virgin Orbits said: "History is not terribly kind to maiden flights. Taking my best faith estimate, it’s about half of the maiden (rocket) flights fail. So that’s sort of the historical odds we’re against." According to the imagery from National Weather Service radar in Los Angeles. the debris cloud near the drop zone of LauncherOne. Seems the Los Angeles NEXRAD picked up what appears to be the breakup of @Virgin_Orbit's rocket shortly after release. (H/T @wxmeddler) pic.twitter.com/bvjYPNaJZQ — Steve Paluch (@BrewCityChaser) May 25, 2020 × Virgin Orbit said that the rocket has "accomplished" all pre-flight milestones according to plan. They said: “As we said before the flight, our goals today were to work through the process of conducting a launch, learn as much as we could, and achieve ignition,” Virgin Orbit said. “We hoped we could have done more, but we accomplished those key objectives today.” Before the test flight Virgin Orbit's CEO and president, Dan Hart said: “You’d have to get into the technical discussion of what did we prove? What data did we get, and what data did we not get? And how could we augment it, if we needed to, with ground testing?” “This is a test flight, so the purpose of this flight is to incrementally test the rocket and the airplane and the system as we pass through the operations,” Hart said Saturday. “So we’ll be getting data on our (propellant) load sequence, our captive carry flight out, and the full flight of the rocket after it drops through first stage flight, separation, second stage flight, and so forth. “And we have telemetry stations around the world to capture the data as it comes down,” Hart said. “The data … is the product of that flight, and every increment that we learn, from the moment, that we start fueling the rocket, to flying it out, to lighting the engines, and observing the response of the system … is a huge step in the maturation of a system.” SpaceX’s founder and CEO, Elon Musk tweeted after Virgin Orbit's Monday launch and shared his experience on Falcon 1. We've confirmed a clean release from the aircraft. However, the mission terminated shortly into the flight. Cosmic Girl and our flight crew are safe and returning to base. — Virgin Orbit (@Virgin_Orbit) May 25, 2020 ×

Virgin Orbit's LauncherOne fails to accomplish goal on first test

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