Virgin Orbit Holdings Inc on Wednesday blamed a dislodged filter for its failed rocket launch in January and said it was planning a flight later this year as the issue has been fixed.

The satellite launch company, founded by billionaire Richard Branson, filed for Chapter 11 bankruptcy protection earlier this month as it struggled to secure long-term funding following the failed launch.

The January mission using Virgin Orbit's centerpiece LauncherOne rocket, the first rocket launch out of Britain, failed to reach orbit and sent its payload of commercial and defense-related research satellites plunging into the ocean.

"Ground test results matched flight data, confirming the dislodging of the filter as the initiation event of the January launch failure," Virgin Orbit said on Wednesday.

The company added that a series of nine tests verified the performance of a redesigned filter and its next rocket was planned for a flight from Mojave Air and Space Port in California later this year.

  - Reuters