Richard Branson

Richard Branson's Virgin Orbit files for bankruptcy, lays off 85% workforce

Virgin Orbit, the rocket company founded by British billionaire Richard Branson, has filed for bankruptcy after announcing to lay off 85 per cent of its employees.

Richard Branson's Virgin Orbit files for bankruptcy, to seek buyer

Virgin Orbit's strategy has been that launching small rockets from a 747 in flight would allow for short-notice launches from anywhere

Richard Branson's Virgin Orbit announces to fire 85% of its workforce

Richard Branson's Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission. The company, headquartered in Long Beach, California, will cut 675 jobs, about 85% of its workforce, according to a Friday filing with the U.S. Securities and Exchange Commission. Earlier this month Virgin Orbit said that it was pausing all operations amid reports of possible job cuts. At the time the company confirmed that it was putting all work on hold, but didn't say for how long. In January, a mission by Virgin Orbit to launch the first satellites into orbit from Europe failed after a rocket's upper stage prematurely shut down. It was a setback in the United Kingdom which had hoped that the launch from Cornwall in southwest England would mark the beginning of more commercial opportunities for the U.K. space industry. The company said in February that an investigation found that its rocket's

Richard Branson's rocket company Virgin Orbit lays off 85% of workforce

In a US securities filing, the company announced a workforce reduction of approximately 675 employees, constituting approximately 85 per cent of the company's workforce "in order to reduce expenses"

Richard Branson's Cosmic Girl fails to put UK into orbit; Virgin sinks 30%

For Virgin Orbit the failure represents a more material setback, with the stock plunging close to 30 per cent in after-hours US trading

Richard Branson's Virgin Galactic partners with Aurora to build motherships

The mothership is the air launch carrier aircraft in Virgin Galactic's space flight system, that carries the spaceship to its release altitude of approximately 50,000 feet

2021, the year that was for world: A chaotic return to the usual

2021 started on a sour note for the democratic world and it remained under pressure from a dominant communist China

Virgin Galactic says US FAA has cleared it for further flights

The company said it was advised by the FAA that corrective actions proposed by Virgin Galactic have been accepted.

Four space tourists end their trailblazing trip with Atlantic splashdown

The all-amateur crew was the first to circle the world without a professional astronaut

FAA grounds Virgin Galactic over probe of Branson's July flight

Federal Aviation Administration is reviewing why SpaceShipTwo flew outside area in which it was cleared by agency during the trip to space that carried company founder Richard Branson and others

Richard Branson sells $300-million stake in Virgin Galactic Holdings

The billionaire offloaded almost 10.5 million shares -- about 4% of the space-travel company -- through a company he controls, leaving him with an 18% stake, according to a regulatory filing

Virgin Galactic reopens ticket sales, charges $450,000 per seat

The price more than doubled from the roughly $200,000 price point the company had years ago

Jeff Bezos, along with 3 others, to fly 'beyond Karman line' today

Jeff Bezos is all set to fly to the edge of space, beyond the Karman line, on Tuesday, along with three others, aboard his company Blue Origin's New Shepard rocket.

Can Virgin Galactic, Blue Origin be more than space joyrides for the rich?

The first billionaire in space has excited some, feeling that they too may one day see the Earth from 85km if they can afford $250,000 for a one-hour trip

Space investors need more than Richard Branson's trip to boost ETFs

It's likely to be a busy year for space developments, as Amazon.com founder Jeff Bezos prepares for a space trip next week in a Blue Origin rocket

Richard Branson's test flight to space sparks new optimism in New Mexico

With Virgin Galactic making its highest profile test flight to date with boss Richard Branson aboard, it's only a matter of time before New Mexico realises a dream that has been decades in the making

Elon Musk buys a $250K ticket to ride on Richard Branson's space flight

SpaceX and Tesla CEO Elon Musk has bought a $250,000 ticket to space from fellow billionaire Richard Branson's Virgin Galactic

Virgin Galactic ride: Race for space may not just be rich man's fun & game

Craft engineering may improve transport safety on Earth; also encourage space debris clean-up

Space tourism spinoffs

Technology could find application in multiple areas

Richard Branson's boldest space adventure and India connection