An explosion on the launch site of a SpaceX Falcon 9 rocket is shown in Cape Canaveral, Florida. Photo: ReutersTel Aviv: Israel-based satellite operator Space Communication Ltd saw a third of its value evaporate after its communications satellite was destroyed in the SpaceX launcher fire. The explosion has raised questions about the fate of the company’s planned sale to a Chinese investor. The Amos-6 satellite was destroyed when the SpaceX Falcon 9 launcher blew up on 1 September during pre-launch tests at Cape Canaveral in Florida. Space Com said Sunday in a statement to the Tel Aviv Stock Exchange that it’s due $294 million in compensation for the loss.

Source: Mint September 04, 2016 15:45 UTC