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Details of Sea Launch Financial Problems Revealed

By Keith Cowing on June 25, 2009 3:13 PM

2 Comments

Court filings detail Sea Launch's bankruptcy, Spaceflight Now

"Sea Launch reported assets between $100 million and $500 million and estimated debt of almost $2 billion. The company will explore the potential sale of one or more of its business units during the bankruptcy proceedings, officials said. The company has long been on shaky financial ground and has "struggled to recognize the success envisioned" when it was formed in 1995, according to the filing."

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Eric Hedman | June 25, 2009 7:55 PM | Reply

Too many launch services for too few customers. An inevitable shakeout. I guess we'll see who survives.

Arnaud | June 26, 2009 4:12 AM | Reply

Didn't they have a launch failure once which wrecked the platform big time? That's bound to not have been good for their bottom line... Though how can they can 2 Billions under is interesting given that launcher devt costs were sunk already.

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Details of Sea Launch Financial Problems Revealed

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Details of Sea Launch Financial Problems Revealed

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