Insurance paying $196 million for Facebook’s destroyed satellite

Spacecom Satellite Communications notified the Tel Aviv Stock Exchange that it will receive a £196-million insurance payment from Israel Aerospace Industries (IAI), Globes reported[1]. IAI built the AMOS-6 satellite that was aboard SpaceX’s Falcon 9 rocket that exploded[2] on 1 September during a pre-flight test. News of the insurance claim comes after Spacecom reported that the deadline for negotiations on its £285-million sale to Beijing Xinwei Technology Group was extended to 15 November.

Analysts raised questions about whether the acquisition would proceed without the additional revenue Spacecom would have received from AMOS-6.

Spacecom said IAI also owes it £10 million in liquidated damages for the late delivery of AMOS-6.

It will also negotiate interest due from IAI on the claim, said Spacecom.

Now read: SpaceX knows why its Falcon 9 blew up Facebook’s satellite[3]


  1. ^ Globes reported (
  2. ^ SpaceX’s Falcon 9 rocket that exploded (
  3. ^ SpaceX knows why its Falcon 9 blew up Facebook’s satellite (