Israeli firm seeks compensation for destroyed satellite


I-24 NEWS – The Israeli communications company whose $200 million satellite was destroyed in an explosion during a test firing of a SpaceX rocket in Florida last week is seeking either compensation or a free future space launch for the lost device.

Israeli communications firm Space Communication (SpaceCom)’s Amos-6 satellite was destroyed on Thursday when the Falcon 9 rocket set to hoist the device into orbit exploded on the launch pad.

SpaceCom said it expects either a $50 million payout from the private aerospace company owned by Elon Musk or “the launch of a future satellite carried out under the existing agreement and with the payments that have [already] been made.”

SpaceCom will also receive over $173 million in compensation plus interest from Israel’s Aerospace Industries (IAI) under an insurance policy on the device, IAI said in a statement Saturday.

According to SpaceCom, the total amount due to be received from IAI is “approximately $205 million.”

An IAI spokesperson said that, as per the insurance policy, the amount must be paid “in under 60 days,” the Times of Israel reports.

SpaceCom said in a statement on Saturday night that additional insurers are expected to pay an additional $39 million for the satellite’s loss.

SpaceCom’s stock has fallen 45 percent since the explosion on Thursday, placing the future of the company in jeopardy.

The private Israeli firm was set to be acquired by China’s Xinwei group pending the successful launch of the Amos-6 satellite in a deal reported to be worth $285 million, Israel Space Agency (ISA) said Friday.

“I very much hope that SpaceCom is strong enough to overcome these things and to order a new satellite,” ISA head Yitzchak Ben-Yisrael told Israeli Radio on Friday.

“If it orders a new satellite, it will take between two and three years to fill the gap,” he added.

The Amos-6 satellite was set to be launched into space on a 16-year mission intended, in part, to serve Facebook’s project and bring Internet connectivity to sub-Saharan Africa.

IAI said in a statement Saturday that Amos-6 was the “most advanced” satellite ever built in Israel by IAI and ISA.

Weighing 12,125 pounds (5,500 kilograms), the satellite was SpaceX’s heaviest payload to date, according to theSpace Flight Insider website.

SpaceX has lost several rockets in its attempt to transform the aerospace industry by re-using expensive rocket parts traditionally left to fall discarded into the oceans.

This latest explosion came just over a year after a Falcon 9 rocket failed just after liftoff, on June 28, 2015, destroying a Dragon cargo capsule bound for the International Space Station (ISS).

The firm has also lost several rockets as it attempted to land them upright on an ocean platform at the end of a flight.

  1. #1 by Blake on 09/05/2016 - 9:34

    Did anyone else hear “pull it”? Sounds like a false flag to get compensation to me

  2. #2 by Ben on 09/05/2016 - 9:34

    F them

  3. #3 by Token White Goy on 09/05/2016 - 9:34

    “The Israeli communications company […] is seeking either compensation or a free future space launch for the lost device.”

    Is there ANY situation (real OR imaginary) in which they DON’T seek “compensation”? Of course not! They are a GLOBAL CRIME SYNDICATE — and nothing more. And some of them are quite proud of their criminal natures and will brazenly proclaim it.

    I hardly exaggerate. Jewish life consists of two elements: extracting money and protesting. –Nahum Goldman

  4. #4 by Isaac on 09/05/2016 - 9:34

    Its very strange that when the Israelis do something it goes wrong. I suspect that it was intentionally done in order to get their way $$$$$$$$$$$ or is a coincidence that another rocket was blown up after take off in 2007 and there was one Israeli among the astronauts?

  5. #5 by Citizen on 09/05/2016 - 9:34

    They probably blew it up themselves…

  6. #6 by Matthew/Boston on 09/06/2016 - 9:34

    There is a typo here. They meant the U.S. taxpayer.

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