The setback for the UK's space ambitions is further reflected in Virgin Orbit's share price which has lost ground significantly since its market debut back in 2021.
Virgin Orbit's 747-400 named Cosmic Girl is seen with the LauncherOne rocket attached ahead of the mission from NewquayShares in Virgin Orbit, the company behind the failed first UK space launch, are on course to fall by more than a fifth at the market open in the US.
It was valued at $3.7bn ahead of the market debut but its market capitalisation had tumbled to $6540m ahead of Tuesday's trading session. "The cash burn rate for the company has been huge, and the prospects for revenue have been significantly set back.
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