Virgin Orbit Continues to Seek $46.3 Million from OneWeb

LauncherOne operated in powered flight for only seconds before an anomaly shut it down after being dropped from the Cosmic Girl Boeing 747. (Credit; Virgin Orbit)

With OneWeb having emerged from bankruptcy, the satellite broadband company new owners, Bharti Global and the British government, have had to deal with creditors.

Virgin Orbit is one of them. Richard Branson’s launch provider is still trying to collect $46.3 million the company feels it is owned from a deal gone bad.

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Richard Branson’s Virgin Orbit is Seeking Investors

LauncherOne operated in powered flight for only seconds before an anomaly shut it down after being dropped from the Cosmic Girl Boeing 747. (Credit; Virgin Orbit)

Richard Branson’s Virgin Orbit is look for investors. The company posted the following notice on its website:

Virgin Orbit LLC, (together with its subsidiaries and affiliates, the “Company”), is exploring a possible transaction and has retained LionTree Advisors LLC (“LionTree”) and Perella Weinberg Partners LP (“PWP”) (together, the “Financial Advisors”).

The website includes a link to a password protected presentation that potential investors can review.

Virgin Orbit is developing LauncherOne, a small-satellite booster that is air launched from a modified Boeing 747 airliner.

Virgin Orbit’s first launch attempt failed in late May when the rocket’s engine stopped about five seconds after it began firing. The company is planning another launch attempt later this year.

The travel-heavy Virgin Group has been struggling to fund its companies due to the COVID-19 pandemic.

Virgin Galactic to Conduct Suborbital Flight in Late October After Long Hiatus

SpaceShipTwo Unity’s second powered flight.

by Douglas Messier
Managing Editor

Virgin Galactic plans to resume suborbital flight tests of SpaceShipTwo (SS2) VSS Unity in late October from Spaceport America in New Mexico after a 20-month long hiatus, according to a filing the company made with the Federal Communications Commission (FCC).

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George Whitesides to Fly on Early Virgin Galactic SpaceShipTwo Flight from Spaceport America

Richard Branson (l) and George Whitesides (r, back) walk with SpaceShipTwo pilots David Mackay and Mark Stucky after a successful glide flight. (Credit: Kenneth Brown)

by Douglas Messier
Managing Editor

A provision in George Whitesides’ contract has Virgin Galactic’s chief space officer — and possibly his wife, Loretta Hidalgo Whitesides — flying on one of SpaceShipTwo’s early suborbital flights from Spaceport America in New Mexico.

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Virgin Galactic Stock Price Declines, Commercial Flights Scheduled for Next Year

New SpaceShipTwo reaches weight on wheels milestone. (Credit: Virgin Galactic)

by Douglas Messier
Managing Editor

Virgin Galactic’s stock decline in extended trading after Sir Richard Branson’s spaceline reported second quarter earnings.

The stock closed on Monday at $24.02 after rising $1.57 (6.99%). In after-hours trading, the stock declined to $22.23, a decrease of $1.79 (-7.45%).

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The Future Ain’t What it Used to Be: The Triumph and Failure of the Ansari X Prize

WhiteKnight with SpaceShipOne on the taxiway prior to the first commercial spaceflight. The authori is at right holding up the video camera. (Credit: John Criswick)

by Douglas Messier
Managing Editor

Sixteen years ago today, I awoke very early and joined about 25,000 people at a newly-designated spaceport in the Mojave Desert to watch history in the making.

On that bright sunny June 21, Mike Melvill became the first person to fly to space on a privately-built vehicle by piloting SpaceShipOne to just above the Karman line at 100 km.

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The Year of the Four Spaceships: A Progress Report

The Expedition 63 crew welcomes Bob Behnken and Doug Hurley to the International Space Station. (Credits: NASA / Bill Stafford)

by Douglas Messier
Managing Editor

Back in February, I went out on a limb and predicted that 2020 could be the Year of the Four Spaceships, with SpaceX, Boeing, Blue Origin, and Virgin Galactic and reaching major milestones in human spaceflight. (See 2020: Four Spaceships & the End of America’s Cosmic Groundhog Day)

With nearly half the year over, I thought it would be a good time to review the companies’ progress toward those milestones.

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Branson Looks to Unprofitable Virgin Galactic to Help Save Reeling Empire

Richard Branson celebrates the first Virgin Galactic trade on the New York Stock Exchange. (Credit Virgin Galactic)

by Douglas Messier
Managing Editor

For nearly 16 years, Richard Branson’s obsession with space travel has been massive money pit for the billionaire’s Virgin Group. Branson’s conglomerate has poured more than $1 billion into Virgin Galactic, Virgin Orbit and The Spaceship Company without launching a single tourist or satellite into space while generating minuscule revenues and not a single penny of profit.

And yet, by the strange workings of modern finances, this money losing effort will be helping to prop up the Virgin Group, which has been laid low financially by the global COVID-19 pandemic.

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Virgin Orbit Ventilators Granted Emergency Use Authorization

Bridge ventilator (Credit: Virgin Orbit)

LONG BEACH, Calif., April 22, 2020 (Virgin Orbit PR) Virgin Orbit, Sir Richard Branson’s responsive satellite launch company, announced today that regulators at the U.S. Food and Drug Administration (FDA) have granted an Emergency Use Authorization for the immediate delivery and use of a new “bridge” ventilator designed and built by the aerospace firm. With that authorization now in place, Virgin Orbit expects to begin delivering ventilators to hospitals within the next few days.

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Virgin Orbit Conducts Cryogenic Flight Test with Fueled LauncherOne Booster

Cosmic Girl performs a pitch up maneuver during a flight test on April 12, 2020. (Credit: Virgin Orbit)

by Douglas Messier
Managing Editor

Virgin Orbit completed a cryogenic captive carry flight test with a fueled LauncherOne rocket aboard for the first time, clearing the last hurdle before Richard Branson’s company can conduct the maiden flight of the air-launched booster.

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Virgin Galactic Stock Goes Up Again (After Going Way Down)

Sir Richard Branson and New Mexico Gov. Bill Richardson in front of WhiteKnightTwo and SpaceShipTwo during the Spaceport America runway dedication ceremony in October 2010. The spaceport still awaits its first suborbital flight. (Credit: Douglas Messier)

by Douglas Messier
Managing Editor

Virgin Galactic’s wild roller coaster ride on Wall Street continued over the past week as Richard Branson’s spaceline marked five months as a publicly traded company and 13 months since the last launch of its SpaceShipTwo suborbital tourism vehicle.

Since debuting on the New York Stock Exchange at $12 last Oct. 28, the stock soared to a high of $42.49 on Feb. 20 before sinking to $10.49 on March 19. Over the past week, the stock has risen again; it reached $14.68 in after-hours trading on Monday.

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Video: Virgin Orbit Cosmic Girl Taxi Test with LauncherOne Attached

Video Caption: Virgin Orbit’s Cosmic Girl 747 conducted a slow-speed taxi test down the runway with a fueled LauncherOne under its wing at the Mojave Air and Space Port in California on March 5, 2020. The test covered about 2 miles on runway 12-30.

The taxi test was a precursor to a flight test with a fueled booster for Sir Richard Branson’s launch company. LauncherOne is designed to orbit small satellites after being dropped from the modified Boeing airliner. Virgin Orbit plans to conduct a flight test of the booster for later this year.

Soaring Investment in Commercial Space Dominated by Handful of Companies

Credit: Bryce Space and Technology

by Douglas Messier
Managing Editor

Investment in commercial space companies soared to $5.7 billion in 2019 from $3.5 billion the year before, but the bulk of the funding went to a handful of companies most of which are run by billionaires, according to a new report from Bryce Space and Technology.

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Blast From the Past: Suborbital Human Spaceflights by March 2009

March 2007

Virgin Galactic Founder predicts SpaceShipTwo would be ready to fly in 12 months. A year after that — March 2009 — the vehicle would begin commercial suborbital space flights.

The reality is that in 2007 they didn’t have an engine capable of firing for the one minute needed to send SpaceShipTwo above 50 miles. They weren’t even close to having one. It would take another 7.5 years to develop one they would even risk firing for more than 20 seconds in flight.

SpaceShipTwo VSS Enterprise was destroyed on Oct. 31, 2014 during the flight during which they were supposed to test that engine. That accident set the program back by another five years.