Virgin Orbit filed for Chapter 11 bankruptcy in April 2023. The company, founded by Richard Branson’s Virgin Group, developed an air-launched rocket system intended to place small satellites into orbit.
Virgin Orbit used a modified Boeing 747 named Cosmic Girl to carry its LauncherOne rocket to high altitude before release. The approach was designed to offer flexible launches from different locations, but the company struggled to secure enough financing and launch revenue.
After filing, Virgin Orbit sought a buyer or new investment. Its assets were eventually sold, and the company ceased operations in 2023.
Virgin Orbit is distinct from Virgin Galactic, which focuses on suborbital space tourism. Both belonged to the broader Virgin brand, but they used different spacecraft, business models, and launch systems.