Astra Space is considering selling a 51% stake in its in-space propulsion business or other parts of the business, such as equipment, to avoid bankruptcy. The propulsion business was acquired when Astra bought Apollo Fusion in 2021.

Astra hopes to raise more than USD 100 million from the sale. The company is also considering selling parts of its rocket factory, equipment, or other parts of the propulsion business to generate cash. These potential sales come as Astra struggles with financial difficulties and a dwindling cash reserve.

Analyst QuickTake: In August 2023 , Astra laid off 25% of its workforce and reallocated engineers and manufacturing staff to focus on spacecraft production. This was after it announced plans to sell up to USD 65 million in stock and has secured a USD 12.5 million loan to address working capital needs. Layoffs have been common in the space industry due to financial struggles and a challenging investment climate. Other space industry companies that have announced layoffs recently include Benchmark Space Systems and Virgin Orbit.