Orbital Sciences: major Antares launcher announcement

[DocM]

Wow....use a different, larger, launcher? Falcon 9, Atlas V or Delta IV are the obvious choices, but supposedly one European (the Arianespace Soyuz vacated by Galileo?) Falcon 9 makes the most economical sense.

It also tosses Aerojet-Rocketdyne under the bus. They took a quarterly loss after the AJ-26 test stand explosion last May. Losing this contract is gonna hurt.

http://www.orbital.com/NewsInfo/release.asp?prid=1921

Orbital Announces Go-Forward Plan for NASA's Commercial Resupply Services Program and the Company's Antares Launch Vehicle

-- Revised Approach Will Maintain Required ISS Cargo Deliveries in 2015 and 2016 --

-- Accelerated Propulsion System Upgrade of Antares to be Implemented at Wallops --

(Dulles, VA 5 November 2014) Orbital Sciences Corporation (NYSE: ORB), one of the worlds leading space technology companies, today announced comprehensive plans to fulfill its contract commitments under NASAs Commercial Resupply Services (CRS) program as well as to accelerate an upgrade of the Antares medium-class launchers main propulsion system. Under the new approach and in line with Orbitals existing CRS contract, all remaining cargo will be delivered to the International Space Station (ISS) by the end of 2016. There will be no cost increase to NASA and only minor adjustments will be needed to the cargo manifest in the near term.

Orbitals Antares launch failure Accident Investigation Board (AIB) is making good progress in determining the primary cause of last weeks failure. A preliminary review of telemetry and video data has been conducted and substantial debris from the Antares rocket and its Cygnus payload has been collected and examined. While the work of the AIB continues, preliminary evidence and analysis conducted to date points to a probable turbopump-related failure in one of the two Aerojet Rocketdyne AJ26 stage one main engines. As a result, the use of these engines for the Antares vehicle likely will be discontinued.

To maintain the CRS programs critical ISS supply line, Orbital plans an early introduction of its previously selected Antares propulsion system upgrade in 2016. This will be preceded by one or two non-Antares launches of the companys Cygnus cargo spacecraft to the ISS in 2015-2016, employing the spacecrafts compatibility with various launch vehicles and its flexibility to accommodate heavier cargo loads as launcher capacity permits. In addition, the company expects repairs to the Mid-Atlantic Regional Spaceport (MARS) launch complex at NASAs Wallops Flight Facility to be undertaken quickly, allowing launch operations to continue at Wallops Island with the upgraded Antares beginning in 2016.

Orbital is taking decisive action to fulfill our commitments to NASA in support of safe and productive operations of the Space Station. While last weeks Antares failure was very disappointing to all of us, the company is already implementing a contingency plan to overcome this setback. We intend to move forward safely but also expeditiously to put our CRS cargo program back on track and to accelerate the introduction of our upgraded Antares rocket, said Mr. David W. Thompson, Orbitals Chairman and Chief Executive Officer.

Exact financial impacts to Orbital will depend on which of several specific options for near-term launches is selected, but they are not expected to be material on an annual basis in 2015. In all cases, no significant adverse effects are projected in 2016 or future years, in part because the cost of the Antares propulsion system upgrade was already part of our internal investment plan during that time, he added.

We very much appreciate the tremendous support Orbital has received from NASA and Virginias MARS commercial spaceport team over the last seven years on our Antares rocket and CRS cargo programs. We look forward to working closely with them to quickly recover from last weeks setback, Thompson concluded.

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