Virgin Orbit Says Going Concern Still Possible Ahead Of Auction

Virgin Orbit Holdings Inc. is still entertaining potential going concern bids ahead of its Chapter 11 auction scheduled for early next week, a company lawyer said Thursday.

• Virgin Orbit lawyer George Klidonas said advisers anticipate robust bidding at the May 22 auction, including offers that could keep the satellite launch business operating
• US Bankruptcy Judge Karen Owens approved bid protections for aerospace company Stratolaunch LLC, whose $17 million lead bid for Virgin Orbit’s modified Boeing 747, named Cosmic Girl, is setting a price floor for the upcoming auction
• Klidonas said Stratolaunch’s stalking-horse bid for Cosmic Girl doesn’t prevent Virgin ...