As it became apparent that Virgin Orbit's attempt to launch the first satellites from UK soil was failing, it was not just the LauncherOne rocket that was faltering.
Shares in Virgin Orbit soon started to plunge as well, dropping as much as 37 per cent in pre-market trading on the Nasdaq in New York.
Virgin Orbit’s modified 747 plane “Cosmic Girl” took off from Spaceport Cornwall in south-west England on Monday night, carrying the company’s LauncherOne rocket under its wing.
At an altitude of 10,600 metres, the rocket successfully deployed and ignited its main engine. But shortly afterwards on its journey upwards, it suffered what's being called an unknown “anomaly”, leading to the loss of the rocket and its satellite payload.
'Get back up and try again'
However, Virgin Orbit and its billionaire founder, Sir Richard Branson, will not see this as a disaster, merely a set back. Because that's what business entrepreneurs do.
After a bicycle accident on the Caribbean island Virgin Gorda in 2016, where he cracked a cheekbone and tore some ligaments, Sir Richard said: “My attitude has always been, if you fall flat on your face, at least you're moving forward. All you have to do is get back up and try again.”
That would seem to be the plan for Virgin Orbit now.
“We will work tirelessly to understand the nature of the failure, make corrective actions and return to orbit as soon as we have completed a full investigation and mission assurance process,” said chief executive Dan Hart.
Virgin Orbit was formed in 2017 with the specific purpose of building a rocket, known as LauncherOne, that could be flown to high altitudes by Cosmic Girl, a modified former Virgin Atlantic Boeing 747. LauncherOne would then deliver small satellites to orbit.
Virgin Orbit grew out of Sir Richard's first space company, Virgin Galactic, which he founded in 2004.
To achieve his dream of commercial manned space flight, Sir Richard formed The Spaceship Company with the American aerospace engineer and founder of Scaled Composites Bert Rutan in 2005.
Initially, Scaled Composites had a 30 per cent slice of TSC, but by 2012, Virgin Galactic owned the whole company. TSC was formed to own the technology that Scaled Composites created when building the initial spacecraft.
Investment and floatation
At the end of 2021 Virgin Orbit was launched on the US stock market, using a special purpose acquisition company, a shell company set up specifically to buy a private company and sidestep some of the costs and regulations of an initial public offering.
Going into the merger, Sir Richard's Virgin Group and the UAE's Mubadala owned Virgin Orbit and had already invested $1 billion into the venture.
“I certainly wouldn’t have invested a billion dollars if I wasn’t extremely confident,” Sir Richard told CNBC at the time.
The shell company was called NextGen Acquisition Corporation 2. The deal only raised $228 million, which was less than half of the expected $483 million, but that didn't dent Sir Richard's enthusiasm.
“Virgin Orbit is well positioned to continue revolutionising satellite launch and building unrivalled space technology that we believe will positively change the world,” he said at the time.
Time and space
Space business investment is a long-term game. While Virgin Orbit's latest accounts show growing losses, they also show increasing revenue. When the shell company deal was announced in August 2021, Virgin Orbit was planning for 18 launches this year and to be in profit by 2024.
While this may have been slightly optimistic, one failed mission is unlikely to derail the project. The long-term nature of the project has been one of its strengths.
In 2010, the sovereign wealth fund of Abu Dhabi, then called Aabar Investments, bought a 31.8 per cent stake in Virgin Galactic for $280 million, which gave it the exclusive regional rights to future space tourism and space flights from the UAE.
The following year, Aabar invested a further $110 million to develop a programme to launch small satellites into low Earth orbit, which became the seed of Virgin Orbit.
By 2017, Aabar had become the Mubadala Investment Company. Mubadala, the Virgin Group and the company's other investors not only have deep pockets but appear to be in it for the long run.
Investing in a company like Virgin Orbit is not just about making money from delivering satellites to low-Earth orbits. Scientific and creative spin-offs may also emerge.
For example, next time you take a picture with your smartphone, remember that the technology behind the camera was first developed by Nasa. The CMOS active pixel sensor in most smartphone cameras was invented for interplanetary missions.
Sir Richard's business career spans more than five decades and has seen successes and failures. Perhaps his most famous mistake was when he went up against Coca-Cola and Pepsi with Virgin Cola, a soft drink which barely won 0.5 per cent of the market.
But taking on the cola giants at their own game and then having the sense to quit is the entrepreneurial essence of business people like Sir Richard.
“I never get the accountants in before I start up a business. It's done on gut feeling, especially if I can see that they are taking the mickey out of the consumer,” he once said.
Sound investment
Virgin Orbit missions have mostly been named after famous and popular songs, including Tubular Bells Part One, the haunting anthem by Mike Oldfield; Above the Clouds by the hip-hop sensation Gang Starr and Straight Up by Paula Abdul. All of those missions were completed at Virgin Orbit's launch site in California's Mojave desert.
But not so successful was the mission from Cornwall in England, named after the Rolling Stones song Start Me Up.
However, after Monday's failure and in the spirit of Sir Richard's continuing entrepreneurialism, perhaps the mission should be renamed after Chumbawamba's Tubthumping, which features the lyric: “I get knocked down, but I get up again. You're never gonna keep me down.”
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
COMPANY%20PROFILE
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THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
Keane on …
Liverpool’s Uefa Champions League bid: “They’re great. With the attacking force they have, for me, they’re certainly one of the favourites. You look at the teams left in it - they’re capable of scoring against anybody at any given time. Defensively they’ve been good, so I don’t see any reason why they couldn’t go on and win it.”
Mohamed Salah’s debut campaign at Anfield: “Unbelievable. He’s been phenomenal. You can name the front three, but for him on a personal level, he’s been unreal. He’s been great to watch and hopefully he can continue now until the end of the season - which I’m sure he will, because he’s been in fine form. He’s been incredible this season.”
Zlatan Ibrahimovic’s instant impact at former club LA Galaxy: “Brilliant. It’s been a great start for him and for the club. They were crying out for another big name there. They were lacking that, for the prestige of LA Galaxy. And now they have one of the finest stars. I hope they can go win something this year.”
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
The biog
Name: Gul Raziq
From: Charsadda, Pakistan
Family: Wife and six children
Favourite holes at Al Ghazal: 15 and 8
Golf Handicap: 6
Childhood sport: cricket
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
UAE currency: the story behind the money in your pockets
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
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How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
'Joker'
Directed by: Todd Phillips
Starring: Joaquin Phoenix
Rating: Five out of five stars
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UAE currency: the story behind the money in your pockets
