The XCOR Aerospace Has Became A Bankrupt Spaceflight Company

XCOR Aerospace became bankrupt last year. The XCOR Aerospace had big plans of frying tourists to space. XCOR Aerospace had to use companies’ reusable Lynx suborbital vehicle to fry the tourists in space. However, currently, the company assets will have to be used for down-to-earth purpose hence the college and high school students will be given a chance to learn about space technology and rockets.

The court records show that an organization knows as Build A has decided to purchase XCOR Aerospace assets at the auction for 1.1million dollars. Previously, Space Florida had placed a bid of 1 million dollars but their bid was slightly lower. Now Build A has plans of using the XCOR Aerospace assets for their new school and Build A is also planning to build it in Lancaster located in California. The Build A target is to get kids from all part of the country to learn about aerospace and rocketry.

This will be a good place to locate the school because the place is co-located with an aerospace company that is functioning. Students will be in a better position of opening the doors and getting into 1,858square meters aerospace equipment and they will be able to talk and interact with the engineers who will be doing the business right there. There is a partner of this project known as sage and he has been looking for the property of building the production facility and building the school.

Build A had been looking for more than 15 years to get companies for donating airplane for college and high school students to learn but all in vain up to the time they bought XCOR Aerospace. The aim of the company is that their students will be able to get hands-on experience of repairing, refurbishing and building aircraft. Currently, Build A has been in a position of getting more that 300 aircraft with aviation clubs and schools. Apart from schools, Build A has also started developing kits with 5.5 meters rockets and they will be able to reach 9,144 meters and their next plan is to distribute them to schools.

Fortunately, XCOR Aerospace sudden bankruptcy became an excellent opportunity for they were able to get everything they needed because their donor was able to give them money to buy XCOR Aerospace assets. Although it is an advantage for build A but some of the assets they don’t understand how to use them. It is also sad to see the dreams of XCOR Aerospace falling short.

Source:

XCOR Aerospace has filed its financials with the U.S. Bankruptcy Court