Rocket Lab negatively impacted by New Zealand’s Wuhan panic lockdowns
Capitalism in space? Rocket Lab reported this week that not only has its income been slashed because of New Zealand’s draconian lockdowns in fear of COVID-19, the company has had to cut its planned launches for the fourth quarter of 2021 by more than half.
“Operations have experienced disruptions due to some of the most restrictive COVID-19 measures globally, including current stay-at-home orders which prevent launch operations from taking place,” said Peter Beck, chief executive of Rocket Lab, of New Zealand’s current restrictions. “Indications are that the current lockdown restrictions may ease by the end of September with the delta cases dropping in New Zealand, but this, of course, is subject to change.”
Those restrictions have delayed plans by Rocket Lab to perform three dedicated Electron launches of BlackSky satellites that had been scheduled to begin in late August. It could also affect the launch of NASA’s CAPSTONE lunar cubesat, which had been scheduled for no earlier than late October on another Electron from Launch Complex 1 in New Zealand.
Adam Spice, chief financial officer, said that the company has five Electron launches manifested for the fourth quarter of the year, but is assuming only two launches in its financial projections. While those five launches would produce more than $40 million in revenue, the company is forecasting only $17-20 million in revenue for the fourth quarter.
Meanwhile, the company has not been able to launch from its new launchpad at Wallops Island in Virginia because NASA — after almost two years! — has apparently still not approved the company’s flight termination system, used to destroy a rocket that has gone out of control. NASA’s refusal to approve this system is very puzzling and very suspicious, especially because Rocket Lab has launched 21 times with it from New Zealand, and even used it several times to successfully destroy failing rockets.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Capitalism in space? Rocket Lab reported this week that not only has its income been slashed because of New Zealand’s draconian lockdowns in fear of COVID-19, the company has had to cut its planned launches for the fourth quarter of 2021 by more than half.
“Operations have experienced disruptions due to some of the most restrictive COVID-19 measures globally, including current stay-at-home orders which prevent launch operations from taking place,” said Peter Beck, chief executive of Rocket Lab, of New Zealand’s current restrictions. “Indications are that the current lockdown restrictions may ease by the end of September with the delta cases dropping in New Zealand, but this, of course, is subject to change.”
Those restrictions have delayed plans by Rocket Lab to perform three dedicated Electron launches of BlackSky satellites that had been scheduled to begin in late August. It could also affect the launch of NASA’s CAPSTONE lunar cubesat, which had been scheduled for no earlier than late October on another Electron from Launch Complex 1 in New Zealand.
Adam Spice, chief financial officer, said that the company has five Electron launches manifested for the fourth quarter of the year, but is assuming only two launches in its financial projections. While those five launches would produce more than $40 million in revenue, the company is forecasting only $17-20 million in revenue for the fourth quarter.
Meanwhile, the company has not been able to launch from its new launchpad at Wallops Island in Virginia because NASA — after almost two years! — has apparently still not approved the company’s flight termination system, used to destroy a rocket that has gone out of control. NASA’s refusal to approve this system is very puzzling and very suspicious, especially because Rocket Lab has launched 21 times with it from New Zealand, and even used it several times to successfully destroy failing rockets.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Restrictions remain in Auckland where cases have dropped from a peak of around 80 a day a week ago to the low teens each day now. Outside on the hospitality industry business is almost back to normal throughout the rest of the country.
I guess that RocketLabs difficulty involves the restrictions at their Auckland facilities, not at the launch and other facilities outside of Auckland.
Rocket Lab’s flight termination system not being approved is perplexing. Rocket Lab now has an order backlog of $141 million. All of that could be at risk so why not solve the problem or make a deal / comply with NASA? Below link, Rocket Lab said NASA was about to approve their flight termination system almost a year ago. It seems this is a business problem, not rocket science, and Rocket Lab is not getting it done.
https://twitter.com/rocketlab/status/1314402483158958080