Virgin Orbit
Virgin Orbit was a US satellite-launch company founded in 2017. It air-launched LauncherOne rockets from a modified BoeingBoeingBoeing is an American company that provides commercial airplanes, defense and space systems, and aviation services, and is listed on the New York Stock Exchange.Open the full entry 747, began commercial service in 2021 and entered bankruptcy proceedings in 2023 before announcing asset sales and cessation of operations. It was distinct from Virgin GalacticVirgin GalacticVirgin Galactic is a commercial spaceflight company founded by Richard Branson in 2004. It develops air-launched suborbital spacecraft for private passengers, research and other missions. VSS Unity began commercial flights in 2023, followed by a transition to Delta-class spacecraft development.Open the full entry.
Contents5 sections
Key facts
2017–2021Formation and air launch
Richard BransonRichard BransonRichard Branson is a British entrepreneur and founder of Virgin Group. Beginning with a youth magazine and mail-order records, he expanded into aviation, leisure, telecommunications, finance and commercial spaceflight. He also founded Virgin Unite and is known for ballooning expeditions and his 2021 suborbital flight.Open the full entry founded Virgin Orbit in 2017. LauncherOne was designed and manufactured in Long Beach, California, carried aloft by a modified 747-400 and released to launch satellites into orbit. Commercial service began in 2021.[1]
April 2023Chapter 11 proceedings
Virgin Orbit and its US subsidiaries began Chapter 11 proceedings in Delaware on April 4, 2023 to facilitate a business sale. Its launch customers had included commercial, civil-government and national-security missions.[1]
May 2023Asset sales and cessation of operations
On May 23 the company announced that a bankruptcy auction would distribute assets among four winning bidders and that it would cease operations, with court approval and closing then pending.[1]
Related Organizations, Websites, and Public Accounts
Virgin Orbit: Official link: https://www.businesswire.com/news/home/20230523006077/en/ (opens in a new window).[1]
Richard Branson: Official link: https://www.virgin.com/branson-family/richard-branson (opens in a new window).[1][2]
Virgin Galactic: Official link: https://www.virgingalactic.com/ (opens in a new window).[1][3]
Virgin GroupVirgin GroupVirgin Group is an investment and brand group originating in the record business established by Richard Branson and Nik Powell in 1970. Its network spans aviation, travel, hospitality, health, telecommunications, finance and spaceflight. Virgin-branded businesses have distinct ownership and operating arrangements.Open the full entry: Official link: https://www.virgin.com/ (opens in a new window).[1][4]