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Article: United States : Boeing Seeks To Reduce Losses from Sea Launch Bankruptcy.
- Article from:
- TendersInfo
- Article date:
- November 2, 2009
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Byline: Mamta03
Seeking to reduce its losses from the Chapter 11 bankruptcy filing of launch-services provider Sea Launch Co., Boeing Co. has filed a demand for arbitration in Sweden to force Sea Launch s Russian and Ukrainian owners to repay $147 million in loan guarantees Boeing made to the struggling firm.
In an unrelated development, Boeing said it may be obliged to record $386 million in pre-tax losses if the U.S. Air Force maintains its refusal to pay higher prices for four United Launch Alliance (ULA) launches. Boeing has agreed to indemnify ULA against potential losses on these four missions if the Air Force refuses to raise the agreed-to ...