Virgin Orbit ceases operations


Spaceport Cornwall’s ambitions have received a knock following the news that Virgin Orbit is laying off the majority of its staff.

Virgin Orbit is a key partner of Spaceport Cornwall and main launch operator. However, the business ran into financial problems earlier this year following its ill-fated launch attempt from Newquay.

The company announced last night that it was axing 675 employees – 85% of its workforce – and ceasing operations “for the foreseeable future” after failing to secure new investment.

Virgin Orbit CEO, Dan Hart, is quoted by CNBC as telling employees: “Unfortunately, we’ve not been able to secure the funding to provide a clear path for this company.

“We have no choice but to implement immediate, dramatic and extremely painful changes.”