Virgin Orbit Pauses Operations, Furloughs Staff

Virgin Orbit said it is pausing all operations amid reports that the company is furloughing almost all its staff as part of a bid to seek a funding lifeline but the California-based satellite launch firm didn’t say how long the pause would last, Sylvia Hui reported for the Associated Press (AP).

Photo Insert: In January, a mission by Virgin Orbit to launch the first satellites into orbit from Europe failed after its rocket’s upper stage prematurely shut down.

“Virgin Orbit is initiating a company-wide operational pause, effective March 16, 2023, and anticipates providing an update on go-forward operations in the coming weeks," the company said.

It added the move was “to conserve cash while the company continues to evaluate all available options.” It declined to comment on reports that all but a small number of workers will be temporarily put on unpaid furlough.

Virgin Orbit, which is listed on the NASDAQ stock exchange, was founded in 2017 by British billionaire Richard Branson to target the market for launching small satellites into space.

Its LauncherOne rockets are launched from the air from modified Virgin passenger planes, allowing the company to operate more flexibly than using fixed launch sites.

In January, a mission by Virgin Orbit to launch the first satellites into orbit from Europe failed after its rocket’s upper stage prematurely shut down.

The failure was a disappointment for Virgin Orbit and British space officials who had hoped the launch would mark the beginning of more commercial opportunities for the UK space industry.

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