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Virgin Orbit, a spin-off of Richard Branson's space company Virgin Galactic, had to file for bankruptcy in March. Still, the company plans to conduct launches this year.

In recent years, private space companies have been sprouting up like mushrooms. But breaking through in the industry, with its high entry costs and complex technical challenges, is not evident. Virgin Orbit's demise is due to the latter, after a flight from England .

In the news: On April 19, Virgin Orbit announced in a that the investigation into the failed mission was completed in January. The company now believes it will be able to successfully conduct flights as a result.

  • During the Jan. 9 flight, the rocket motor on the second stage of the rocket shut down prematurely. As a result, a trip to space could not be completed, which also resulted in the loss of the payload that was supposed to go into orbit.
  • After extensive tests conducted over the past few months, the company now believes it has discovered the cause. A fuel filter had come loose and got into the rocket engine. As a result, it could no longer function.
  • The company has since designed a new filter. This would prevent the problem from occurring during future launches.

Another 100 people at work

Notable: The modified design "has been incorporated into the company's next rocket, which will fly from Mojave Air and Space Port later this year," Virgin Orbit says. So the company has no intention of giving up just yet, despite .

  • The house of cards collapsed in early April. Virgin Orbit sought investors to keep the company afloat, but failed. Still, some 100 employees are still working. 675 people lost their jobs shortly before the bankruptcy was announced.
  • Also on April 19, in a separate , Virgin Orbit announced that it was looking for someone to buy up the company. Interested buyers have until May 4 to apply, and until May 14 to make an offer.
  • Just days earlier, the company filed another with the SEC, the U.S. stock market watchdog, stating that it will remain active at a reduced pace in the meantime. That includes preparation of its next launch vehicle, which is "90 percent complete."
  • Meanwhile, the wait is on, to see if Virgin Orbit can find an investor who can cough up enough money. There is a possibility that buyers will buy only part of the assets, after which it would be game over . If the entire company can be sold anyway, a launch could happen this year.

(ns)

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