Welcome to Edition 5.32 of the Rocket Report! We have plenty to discuss this week, including the surprising success of a quasi-private Chinese company that reached orbit on its first launch attempt. I don’t think this achievement has quite gotten the attention it deserves.
As always, we welcome reader submissions, and if you don’t want to miss an issue, please subscribe using the box below (the form will not appear on AMP-enabled versions of the site). Each report will include information on small-, medium-, and heavy-lift rockets as well as a quick look ahead at the next three launches on the calendar.
Virgin Orbit files for bankruptcy. The launch company announced Tuesday morning that it has filed for bankruptcy in the US District of Delaware, Ars reports. The cash-strapped company said it views bankruptcy as the best means of selling itself. “At this stage, we believe that the Chapter 11 process represents the best path forward to identify and finalize an efficient and value-maximizing sale,” said Dan Hart, CEO of Virgin Orbit. To continue the business with a skeleton crew for minimal operations, founder Richard Branson has agreed to provide $31.6 million in debtor-in-possession financing. If approved by the bankruptcy court, this financing would allow the company funding to continue these operations while seeking a buyer.
Source : https://arstechnica.com/science/2023/04/rocket-report-starship-gets-a-tentative-launch-date-china-tests-ocean-landing/