Reaction Engines Halts Hypersonic Flight
This is a Abingdon, Oxfordshire news story, published by BusinessCloud, that relates primarily to BAE Systems news.
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•‘Concorde successor’ Reaction Engines crashes into administration
65% Informative
Reaction Engines, based in Abingdon, Oxfordshire , has gone into administration.
173 of its 208 -strong workforce have been made redundant by administrator PwC.
The company had needed around 20 million in additional funding to keep going.
Shareholders BAE Systems and Rolls-Royce Holdings were left unwilling to bail it out.
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