Sea Launch reorganization plan approved

LONG BEACH, Calif.

California-based Sea Launch Co. says its reorganization plan has been approved.

The company, which bases its rocket-launching vessels in the Port of Long Beach, said Tuesday the U.S. Bankruptcy Court in Delaware approved the plan it filed in May in preparation to emerge from Chapter 11. The plan now undergoes U.S. regulatory review.

The company says it has a "healthy manifest" of future launches.

Sea Launch recently announced launch agreements with EchoStar Satellite Services L.C.C. and Asia Satellite Telecommunications Co. LTD.