Spacecom may seek $50M or free flight from SpaceX to cover the cost of now-destroyed AMOS-6 satellite

Spacecom may seek $50M or free flight from SpaceX to cover the cost of now-destr

During the course of a conference call with reporters in Hebrew on Sunday, officials of Israel-based Space Communication (Spacecom) said that Elon Musk's SpaceX owes Spacecom $50 million, or a free flight, in compensation for the launch pad damages suffered by a Spacecom communications satellite -- the AMOS-6 satellite -- because of the explosion at SpaceX's Florida launch site on Thursday morning.

The explosion at the SpaceX launch site occurred when a routine firing of SpaceX' Falcon 9 was underway at Cape Canaveral. As a result of the explosion, Spacecom's AMOS-6 advanced communications satellite was destroyed.

Spacecom's AMOS-6 satellite had been leased by companies like Facebook and Eutelsat Communications, for using the satellite's broadband services for reaching broadband Internet access to rural sub-Saharan Africa.

According to the Spacecom officials, the loss of the AMOS-6 satellite in the Thursday explosion -- the cause of which is still being investigated -- would affect the company substantially, resulting in an expected $30 million decline in its equity to $123 million.

Meanwhile, along with revealing that Spacecom could seek $50 million or a free flight from Space X to cover the cost of the now-destroyed AMOS-6 satellite, Spacecom officials also told reporters on Sunday that their company would also likely collect $205 million from the satellite's manufacturer, Israel Aerospace Industries.