Reaction Engines, the British leader in supersonic aviation, has crashed into administration after weeks of talks with potential backers failed to produce a rescue deal. Sky News has learned that 173 of the company’s 208 staff were made redundant on Thursday morning by directors at PricewaterhouseCoopers (PwC). The collapse of the company that makes advanced … Read more
Reaction Engines, the British leader in hypersonic aviation, has moved to reassure staff that they will be paid this month as talks to save the company continue. Staff at Reaction Engines were told this week that it would meet its October payroll obligations amid growing doubts about its survival, Sky News has learned. The company … Read more
The prospects of a rescue deal for Britain’s hypersonic aviation pioneer appeared to have dimmed this weekend when it emerged that talks with a Gulf-based government fund had stalled. Sky News has learned that negotiations between Reaction Engines and the UAE Strategic Development Fund, the investment arm of the Emirati Tawazun Council, about consolidating the … Read more