Aabar Investments

Following Richard Branson’s announcement of halting further financial contributions, the stock price of Virgin Galactic experienced a significant drop of over 17% by Monday’s close. This latest complication adds to a series of challenges the company has faced, including recent layoffs and a suspension of commercial flights.“Even AI Rappers are Harassed by Police” | AI UnlockedSpeaking to the Financial Times, Virgin Galactic’s founder revealed his decision to stop funding Virgin Galactic. He cited post-pandemic financial…

The ongoing saga of Virgin Orbit’s ongoing crash and burn appears to have finally come to an end. Assets from the satellite launch company, founded by British entrepreneur Richard Branson, have officially been sold off at auction, with some major spaceflight players picking up the crumbs.Astronomers Could Soon Get Warnings When SpaceX Satellites Threaten Their ViewAfter facing several blows, Virgin Orbit announced in April that it filed for Chapter 11 bankruptcy and was seeking a wholesale buyer. With no luck, the company…

Virgin Investments Limited pumped $55 million into Virgin Orbit across three cash injections since November 2022, according to an SEC filing in February.Image: Virgin OrbitHouston, Virgin Orbit has a problem. The satellite launch company from British entrepreneur Richard Branson has announced that it filed for Chapter 11 bankruptcy in Delaware.Astronomers Could Soon Get Warnings When SpaceX Satellites Threaten Their ViewVirgin Orbit announced the news in a press release this morning, and the company intends to use the…

Following a failed rocket launch earlier this year, Richard Branson’s private space venture has been struggling to stay afloat.Taking out the Trash (in Space)Virgin Orbit is laying off 85% of its workforce, or 675 employees, and ceasing operations for the foreseeable future “in order to reduce expenses in light of the company’s inability to secure meaningful funding,” the company wrotforee in a Securities and Exchange Commission filing.“Unfortunately, we’ve not been able to secure the funding to provide a clear path for…

Virgin Orbit’s Cosmic Girl releasing the LauncherOne rocket. Photo: Virgin OrbitPrivate launch company Virgin Orbit is still seeking new funding to help resume its operations after deal negotiations reportedly failed over the weekend.A Transformer Is Headed to the MoonRichard Branson’s space venture is extending an unpaid furlough for most of its employees as it continues to pause its operations, CNBC reported based on a company-wide email from CEO Dan Hart. “Our investment discussions have been very dynamic over the past…

Things may be looking up for Richard Branson’s private launch business Virgin Orbit, with reports suggesting the company may have secured new funding and is preparing for an upcoming rocket launch.Virgin Orbit might be returning a small team of its employees that were furloughed just last week, CNBC reported on Tuesday, based on a company-wide email. What’s more, the company is looking to perform another launch soon in an effort to move forward and redeem its launch failure earlier this year. “Any viable path for our…

Richard Branson’s private space venture Virgin Orbit is reportedly planning for insolvency in the event it’s not able to secure new funding, according to Sky News.The company is working with two restructuring firms, Alvarez & Marsal and Ducera, to develop a backup plan as it continues talks with potential investors to help Virgin Orbit restart its operations, Sky News reported on Sunday. This comes days after Virgin Orbit announced that it was halting all of its operations and furloughing the majority of its staff in…

Virgin Group founder and owner Richard Branson during Virgin Orbit’s Tubular Bells: Part One mission on June 30, 2021.Photo: Virgin OrbitVirgin Investments Limited has pumped $55 million into Virgin Orbit since November of last year, in what is a troubling sign for the fledgling satellite launch company.Cash flow problems, an achingly slow launch cadence, and a botched satellite delivery in January—these are a few of our not-so-favorite things when it comes to Virgin Orbit these days. The Richard Branson-owned company is…

Cosmic Girl taking off from Spaceport Cornwall at Cornwall Airport, Newquay.Photo: Ben Birchall (AP)Britain’s first orbital launch ended in a disappointing failure after Virgin Orbit’s LauncherOne rocket suffered an anomaly, destroying the seven payloads on board. The company’s modified Boeing aircraft, named Cosmic Girl, took off on Monday at 5:02 p.m. ET from Spaceport Cornwall, carrying the LauncherOne booster rocket tucked beneath its left wing.The mission was off to a good start as Cosmic Girl released the rocket…

Cosmic Girl during a flight on January 17, 2021. Photo: Matthew C. Hartman (AP)A modified Boeing aircraft, with a rocket tucked under its wing, will take off from British soil as early as next week, marking the United Kingdom’s first ever orbital launch.Virgin Orbit is getting ready to send off its Cosmic Girl mothership from Spaceport Cornwall in England after clearing some final regulatory hurdles, paving the way for the historic launch. Cosmic girl is all set for takeoff on Monday, January 9 at 5:16 p.m. ET, with back…