Virgin Orbit 'pauses operations' after failed satellite launch
The company is looking for finance after a failed mission in January
Virgin Orbit - which launched one of its rockets from Cornwall - is pausing all operations.
It's in an apparent attempt to deal with financial issues and in a statement the US firm expects to provide an update in the coming weeks.
A statement reads: "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."
In January Virgin Orbit's repurposed 747 took off while carrying rocket 'Launcher One' but a fuel line issued resulted in the satellites the rockets it was carrying not reaching orbit.
Had the UK's first mission of its kind been a success, it was expected there would be another launch - possibly later this year and led by Virgin Orbit.
The statement added that the investigation into the failure was 'nearly complete' and that "our next production rocket with the needed modification incorporated is in final stages of integration and test".