Bankrupt satellite launching company Virgin Orbit has entered into a "stalking horse" agreement with a buyer of aircraft assets.
A stalking horse bid is often used as a starting offer, or the minimum that would be accepted should other interested parties want to buy assets or a company as a whole.
Stratolaunch, founded in 2011 by billionaire and Microsoft co-founder Paul Allen, has made a $17 million bid for Virgin Orbit's aircraft assets, including Cosmic Girl, the converted Boeing 747 from which the LauncherOne rocket was launched.
Founded by British entrepreneur Richard Branson, Virgin Orbit used a technique known as air launch, in which its LauncherOne rocket was deployed at a high altitude from under the wing of Cosmic Girl.
Mission failure
Virgin Orbit completed its first mission in January 2021. Four further flights followed in 2022.
But in early January this year, the company failed in its first launch attempt from a base in the southern English town of Cornwall.
Virgin Orbit ceased operations within a couple of months.
It filed for Chapter 11 bankruptcy in the US state of Delaware last month. In the filing it listed $243 million in assets.
The company said it had considerable interest in its assets other than the aircraft. The deadline to submit bids for Virgin orbit's assets is on Friday at noon Eastern Standard Time.
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Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Dunki
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The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
The specs: 2017 Maserati Quattroporte
Price, base / as tested Dh389,000 / Dh559,000
Engine 3.0L twin-turbo V8
Transmission Eight-speed automatic
Power 530hp @ 6,800rpm
Torque 650Nm @ 2,000 rpm
Fuel economy, combined 10.7L / 100km
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Mohammed bin Zayed Majlis
Aayan%E2%80%99s%20records
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The BIO
Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.
Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.
Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.
Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.
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MATCH INFO
Rugby World Cup (all times UAE)
Third-place play-off: New Zealand v Wales, Friday, 1pm
