Last week’s explosion on the launchpad could cost SpaceX more than just the destroyed rocket.
FOX’s Pat O’Neill has more:
The Israeli communications company Spacecom, which lost one of its satellites in the accident last Thursday, is demanding $50 million or a free flight from SpaceX. Spacecom says it could also collect $205 million from Israel Aerospace Industries, which built the ill-fated satellite.
SpaceX, owned by billionaire Elon Musk, hasn’t said how much insurance it had beyond what’s required by the FAA.
It’s also unclear if a merger deal involving Spacecom and a Chinese tech firm is in jeopardy. SpaceX, meanwhile, has lined up 70 future space missions worth more than $10 billion for company and government sponsors.
Last week’s rocket explosion is still under investigation.
Pat O’Neill, FOX News.
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from Department of Private Space Inc.