XCOR Aerospace, the space tourism outfit that once vied with Virgin Galactic, to be the first to carry space tourists into suborbital space on regular flights of its Lynx space plane, is on the point of folding. Having already laid off of half of its 60 employees in 2016, the company has announced, via Space News, that its remaining work force is being let go.
The company will remain instituted for legal reasons, and in the vain hope that it might be resuscitated, with some key positions still occupied. But for all other intents and purposes XCOR Aerospace is now moribund. The company complained that the poor financial situation was the root cause of its funding failure.
XCOR Aerospace is yet another “new space” launch venture to have recently failed as it joins the Swiss S3, and the US failed operations, Firefly, Armadillo Aerospace and Rocketplane Global. The full story on Space News is here.