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Sea Launch Secures Financing for Continued Operations
Sea Launch Company, LLC, a leading provider of launch services to the commercial satellite industry, has received interim approval from the U.S. Bankruptcy Court in Delaware on its motion to secure up to $12.5 million in debtor-in-possession (DIP) financing from Space Launch Services, LLC.
This credit facility will provide working capital to continue Sea Launch operations as the company moves through its Chapter 11 reorganisation process. In the next few months, Sea Launch will be preparing a Plan of Reorganisation as well as securing exit financing and finalizing a revitalised supply chain management structure.

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Boeing expected to end stake in rocket firm Sea Launch
Long Beach-based Sea Launch says it expects the aerospace giant's ownership role to end after the smaller company emerges from bankruptcy.

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Sea Launch Files for Bankruptcy
Sea Launch Company L.L.C. and Sea Launch Limited Partnership and subsidiaries ("Sea Launch" or "Company"), a leading provider of launch services to the commercial satellite industry, has filed voluntary petitions to reorganise under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in Wilmington.
The members of Sea Launch have unanimously determined that Chapter 11 reorganisation is in the best interests of the Company, its customers, shareholders, employees and other related parties.
Sea Launch intends to continue to maintain all normal business operations after the filing for reorganisation. Subject to court approval, Sea Launch will initially use its cash balance to meet operational requirements during the reorganisation process and is addressing Debtor in Possession financing, if necessary.

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Sea Launchs newly manufactured gas deflector arrived at Home Port in Long Beach, California, US, on Aug. 20. Within hours, workers unloaded the 280-metric-ton structure from a cargo vessel, the Thor Amalie, and set it on a barge alongside the pier in preparation for installation on the Odyssey Launch Platform.
The gas deflector structure will be installed at the stern of the Odyssey Launch Platform, beneath the launch pad. Specialised workers are using a Strand Jack hydraulic lift and pneumatic chain hoists for aligning the structure into position. A special team responsible for the fabrication and installation of the gas deflector was assembled several months ago to formulate and execute the plan for this operation.
Lost during the failed January 30 launch attempt, the one-of-a-kind gas deflector directs engine exhaust away from the platform and controls the acoustic environment. The Design Bureau for Transport Machinery (DBTM) of Moscow, Russia, managed construction of the replacement structure at the Baltisky shipyard in St. Petersburg, Russia, where the original deflector was built 10 years ago. DBTM is the prime contractor for the Sea Launch systems ground support segment.
The Sea Launch vessels returned to Home Port earlier this month from a six-week stay at the Victoria Shipyard in British Columbia, where heavy industrial repairs and painting on the Launch Platform were completed. Final repairs and re-certification of various systems and associated launch support equipment on the Launch Platform are now underway at Home Port.
Installation of the gas deflector is a major milestone among these activities, which are all progressing on schedule. A chronological account of the Mission Recovery activities is posted on the Sea Launch website at www.sea-launch.com. The Sea Launch team will transition to mission operations next month, in preparation for the launch of the Thuraya 3 satellite in October.

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