Branson’s Virgin Orbit aims to redo launch demo in December, as it seeks $150 million in new capital

SourceCNBC
SectorFinancial Markets
CountryGCC

Sir Richard Branson's small satellite launch specialist Virgin Orbit is looking to bounce back from the failure of its first demonstration launch in May, aiming to fly its next demo mission in December.Virgin Orbit, which uses a modified Boeing 747 aircraft to launch its rockets, diagnosed the failure to a high-pressure fuel line in the engine, which caused the rocket to shut down shortly after launching. But the company is nearly finished testing the rocket that will fly the second demo mission with a modified engine."Right now the back end of the rocket is open, with the new engine on the factory floor and over the next few days we will install that," Virgin Orbit CEO Dan Hart told CNBC. "We are going to begin pre-launch operations around the beginning ...read more...