Sea Launch Files Chapter 11 Bankruptcy
Sea Launch Company, LLC, which launches commercial communications satellites from a converted mobile ocean oil rig that travels from Long Beach, CA to the equator for launch, filed for reorganization under Chapter 11 bankruptcy protection on June 22.
Kjell Karlsen, President and General Manager, assured customers that Sea Launch will continue to operate during the reorganization. The company is owned by Boeing (40%), Russia's RSC-Energia (25%), Norway's Aker ASA (20%), and Ukraine's SDO Yuzhnoye/PO Yuzhmash (15%).
The announcement came one day after the successful launch of Malaysia's MEASAT 3 by Land Launch, a partnership between Sea Launch and Moscow's Space International Services that launches from the Baikonur Cosmodrome. Spaceflightnow.com reported on that launch, which was delayed by almost a year due to damage to the spacecraft at the launch site last August.
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