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takyon [soylentnews.org] writes:

SpaceX will need to pay up [theverge.com] for its destruction of an AMOS-6 satellite [soylentnews.org]:

SpaceX may be on the hook to compensate Space Communication Ltd. for the satellite that was destroyed during the explosion of a Falcon 9 rocket [theverge.com] — either with a free trip or $50 million, according to Reuters [reuters.com].

The construction, launch preparation and operation of the AMOS-6 satellite, which would have been used to "significantly expand the variety of communications services provided by Spacecom," reportedly cost the company [defense-aerospace.com] more than $195 million. The officials from the company also noted that it could also collect upwards of $205 million from Israel Aircraft Industries, which built the satellite. SpaceX hasn't said what kind of insurance it purchased for the rocket, or what that insurance might pay for, Reuters reported. SpaceX wasn't immediately available for comment.

The failure of the launch may also kill a deal for Beijing Xinwei Technology Group to acquire Spacecom.

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