Virgin Orbit resumes limited operations
In anticipation of a possibly deal to save the company, Virgin Orbit officials have resumed limited operations, bringing back a small number of employees to work on crucial issues required for its next launch.
“Our first step will begin Thursday of this week, when we plan to return a subset of our team to focus on critical areas for our next mission,” Virgin Orbit said in a statement. “We are looking forward to getting back to our mission and returning to orbit.”
…Reuters reported that Virgin Orbit is working on a $200 million infusion from Texas-based venture capital investor Matthew Brown via a private share placement, citing a term sheet. Following a meeting by Virgin Orbit’s board on Tuesday, the two sides plan to close the deal on Friday, according to the non-binding term sheet, Reuters said.
Should the company resume full operations and launch again, I am certain it will not launch from the United Kingdom, at least not until the UK has fixed its launch licensing bureau, the Civil Aviation Authority, which took so long to approve Virgin Orbit’s launch from Cornwall it practically bankrupted the company.
In anticipation of a possibly deal to save the company, Virgin Orbit officials have resumed limited operations, bringing back a small number of employees to work on crucial issues required for its next launch.
“Our first step will begin Thursday of this week, when we plan to return a subset of our team to focus on critical areas for our next mission,” Virgin Orbit said in a statement. “We are looking forward to getting back to our mission and returning to orbit.”
…Reuters reported that Virgin Orbit is working on a $200 million infusion from Texas-based venture capital investor Matthew Brown via a private share placement, citing a term sheet. Following a meeting by Virgin Orbit’s board on Tuesday, the two sides plan to close the deal on Friday, according to the non-binding term sheet, Reuters said.
Should the company resume full operations and launch again, I am certain it will not launch from the United Kingdom, at least not until the UK has fixed its launch licensing bureau, the Civil Aviation Authority, which took so long to approve Virgin Orbit’s launch from Cornwall it practically bankrupted the company.