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.


Popular Stories

Dr. Mark Wainberg dies after struggling in waters off Bal Harbour, Fla.

Famed microbiologist Dr. Mark Wainberg, who played... Read More

Microsoft patches NSA’s leaked Windows hacks

Microsoft Corp. has claimed that it has already... Read More

Las Vegas to offer clean needles through vending machines

Struggling to fight back soaring heroin and HIV... Read More

Nintendo announces new games for Switch

During the most recent Nintendo Direct, the mobile... Read More

Decomposed bat found inside package of salad: officials confirm

Fresh Express is recalling a limited number of... Read More

Future Google Pixel phones may feature curved screens

Tech giant Google Inc. has plans to introduce a... Read More