UK rocket pioneer Reaction Engines goes into administration
Briefly

SABRE is an exotic design, described as an air-breathing rocket engine. It allows an aircraft to take off from a runway as normal, then travel at velocities of about five times the speed of sound in the atmosphere.
It's with great sadness that a pioneering company with a 35-year history of spearheading aerospace innovation has unfortunately been unable to raise the funding required to continue operations,
The company was pursuing opportunities to raise additional investment, however, these were unsuccessful and the directors had no option but to place it into administration.
Read at Theregister
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