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Top related persons:
Richard Branson's - 2 Florida's Brightline - 1 It's - 1 Mike Reininger - 1 John Renne - 1 Brightline - 1 ” Renne - 1 Virgin “ - 1
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Richard Branson's Virgin Group - 2 MIAMI - 1 Fortress Investment - 1 West Palm Beach - 1 D.C - 1 Amtrak - 1 Florida Atlantic University's Center for Urban - 1 Environmental Solutions - 1

Search resuls for: "Richard Branson's Virgin Group"


8 mentions found


☆ First Private US Passenger Rail Line in 100 Years Is About to Link Miami and Orlando at High Speed
  + stars: | 2023-09-21 | by ( Associated Press | Sept. | At A.M. | ) www.usnews.com   time to read: +7 min
The only other U.S. high-speed line is Amtrak's Acela service between Boston and Washington, D.C., which began in 2000. Brightline began planning in 2012. A 2018 partnership with Richard Branson's Virgin Group to rebrand Brightline as Virgin Trains USA quickly soured. According to the lawsuit, Brightline says Virgin “ceased to constitute a brand of international high repute, largely because of matters related to the pandemic." He said Brightline’s accommodations “compare really well to some of the best trains” he’s taken in Europe, where high-speed rail between cities is common.
Persons: Florida's Brightline, It's, Mike Reininger, John Renne, Brightline, ” Renne, Richard Branson's, Virgin “, hasn’t, Eric Flowers, ”, ” Brightline, Reininger, ” Reininger, Robert Barr, You’ve, Barr Organizations: MIAMI, Fortress Investment, West Palm Beach, D.C, Amtrak, Florida Atlantic University's Center for Urban, Environmental Solutions, Miami -, Richard Branson's Virgin Group, Virgin Trains USA, Virgin, Orlando Locations: United States, Miami, Orlando, West Palm, Southern California, Las Vegas, Boston, Washington, Florida, Tampa, Jacksonville, Miami - Orlando, London, U.S, West, County, We’re, Vero, Brightline’s Miami, South, Florida’s, Europe
☆ Virgin Voyages raises $550 mln in Ares Management-led fundraise
  + stars: | 2023-09-08 | by ( ) www.reuters.com   time to read: +1 min
The Virgin Voyages Scarlet Lady cruise liner sits docked at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon Dawson Acquire Licensing RightsSept 8 (Reuters) - Virgin Voyages, the cruise brand from Richard Branson's Virgin Group, said on Friday it has raised $550 million in fresh capital to expand into new international markets. The funding was led by Ares Management (ARES.N) with participation from existing investors, including British conglomerate Virgin Group and venture capital firm Bain Capital. Launched at the end of 2021, Virgin Voyages operates three ships servicing the Caribbean and the Mediterranean. It plans to operate in Australia and New Zealand by the end of the year.
Persons: Simon Dawson, Richard Branson's, Tom McAlpin, Nirmal Saverimuttu, Manya Saini, Arun Koyyur Organizations: REUTERS, Richard Branson's Virgin Group, Ares Management, Virgin Group, Bain Capital, Virgin Voyages, Caribbean, Thomson Locations: Dover Port, Dover, Britain, British, Australia, New Zealand, Bengaluru
☆ Virgin Australia says IPO planning advanced, finalising capital return
  + stars: | 2023-05-10 | by ( Scott Murdoch Lewis Jackson | Scott Murdoch | Lewis Jackson | ) www.reuters.com   time to read: +2 min
A Virgin Australia spokesperson confirmed the contents of the internal email. A Bain Capital spokesperson declined to comment. "I can also confirm the IPO planning is well advanced," Cotton said in the email to staff seen by Reuters. Virgin Australia Chief Executive Jayne Hrdlicka said on Monday that she would take several weeks of leave to spend time with family after the death of her husband from cancer. Bain Capital bought Virgin Australia in 2020 after it was placed in voluntary administration, the closest Australian equivalent to Chapter 11 bankruptcy.
☆ Virgin Orbit to lay off about 85% of staff
  + stars: | 2023-03-30 | by ( Joey Roulette | ) www.reuters.com   time to read: +2 min
March 30 (Reuters) - Rocket maker Virgin Orbit Holdings(VORB.O) on Thursday said it was laying off about 85% of staff because it had not been able to raise new investment. Shares of the company, which is controlled by Richard Branson's Virgin Group, fell 38% in after hours trade. About 675 employees will lose their jobs, and the company expects to take related charges of about $15 million, Virgin Orbit said in a regulatory filing. Virgin Orbit went public in 2021 through a blank-check deal, where it raised $255 million less than expected. A small group of employees returned to work on March 23 to focus on rocket engine work, an email to staff said at the time.
☆ Virgin Orbit starts to plan for insolvency amid rescue talks, Sky News reports
  + stars: | 2023-03-19 | by ( ) www.reuters.com   time to read: +1 min
March 19 (Reuters) - Aircraft engineering company Virgin Orbit Holdings Inc (VORB.O) has begun drawing up detailed contingency plans for its insolvency days after halting its operations and furloughing its workforce, Sky News reported on Sunday. Richard Branson's Virgin Group is working with restructuring firms Alvarez & Marsal and Ducera about fallback plans if they cannot secure new funding, the report added. Last week, Reuters reported that Virgin Orbit Chief Executive Dan Hart told staff in a meeting that the furlough was intended to buy the company time to finalize a new investment plan to help pull it out of its financial woes, while the duration of the furlough remained unclear. Virgin Orbit did not respond to a Reuters request for comment. Reporting by Urvi Dugar in Bengaluru; Editing by Aurora Ellis and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
☆ Virgin Orbit pauses operations for a week, furloughs nearly entire staff as it seeks funding
  + stars: | 2023-03-15 | by ( Michael Sheetz | ) www.cnbc.com   time to read: +2 min
Virgin Orbit is furloughing nearly all its employees and pausing operations for a week as it looks for a funding lifeline, people familiar with the matter told CNBC. Virgin Orbit is also moving up payroll by a week to Friday. Virgin Orbit did not immediately respond to CNBC's requests for comment. Shares of Virgin Orbit fell 11% in after-hours trading from its close at $1.01 a share. When Virgin Orbit reported third quarter results in early November, it disclosed cash on hand of $71.2 million at the end of the quarter.
☆ Virgin Orbit stock plummets after failure of its first UK rocket launch
  + stars: | 2023-01-09 | by ( Michael Sheetz | ) www.cnbc.com   time to read: +1 min
Virgin Orbit stock fell in trading on Monday evening, after the company confirmed that its first launch out of the United Kingdom failed to reach orbit. Shares of Virgin Orbit fell as much as 30% in after-hours trading, from its previous close of $1.93 a share. Virgin Orbit's webcast showed its LauncherOne rocket released and fired its engine, with the company saying in a tweet that the rocket "successfully reached Earth orbit." Virgin Orbit is reviewing the launch data to identify the source of the failure, and acknowledged that it deleted the tweet about reaching orbit. Monday's mission was Virgin Orbit's sixth to date, and its second launch failure.
☆ Virgin Orbit raises $25 million from Branson's conglomerate as cash reserve dwindles
  + stars: | 2022-11-07 | by ( Michael Sheetz | ) www.cnbc.com   time to read: +1 min
Virgin Orbit raised $25 million, the company announced Monday alongside its third-quarter results, as the alternative rocket launcher faces a dwindling cash reserve. The company disclosed that Richard Branson's Virgin Group, an existing shareholder, made the additional $25 million investment on Nov. 4. Virgin Orbit emphasized in its report that it will "continue to be opportunistic in the capital markets," as the company is "focusing on cost and operational efficiency to improve cash flow." The company brought in revenue of $30.9 million and had $71.2 million in cash on hand at the end of the third quarter. Virgin Orbit said the fourth launch is currently "paced by spacecraft readiness."
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