Boeing Faces Half Billion Dollar Charge on Sea Launch Bankruptcy

sealaunchSea Launch bankruptcy could cost Boeing $478 million
Seattle Post-Intelligencer

Boeing subsidiary Sea Launch Co. LLC, which provides ocean-based launch services to the commercial satellite industry, has filed for Chapter 11 bankruptcy protection — and that could end up costing Boeing $478 million.

In the second quarter of 2009, Boeing expects a pre-tax charge of about $35 million, the Chicago-based aerospace firm said Thursday in a regulatory filing. The company said that if it is unable to get reimbursement from Sea Launch or its partners, its total charges could be $478 million.

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