Home / Software & Service News / SpaceX asked to pay $50 million after losing a satellite

SpaceX asked to pay $50 million after losing a satellite

SpaceX may have to deal with more than equipment losses and Mark Zuckerberg’s disappointment in the wake of its launchpad explosion. Spacecom, which owned the AMOS-6 satellite destroyed in the incident (and part of Facebook’s free internet plans), is asking SpaceX for either $50 million or a free flight as compensation. The loss will have a large impact on Spacecom’s bottom line, as you might imagine. The Israeli firm is estimating that it’ll lose between $30 million to $123 million in equity.

The team at SpaceX has yet to comment on Spacecom’s request. We’ve reached out to see if it has a response. However, it won’t take a grievous blow if it agrees to Spacecom’s terms. As SpaceX explained when beginning its investigation of the explosion, there are about 70 missions on its manifest with a total value of $10 billion. The rocket and launchpad costs would be greater. Instead, the greater loss could be symbolic. Customers may well be worried that their payloads might face a similar fate, and they’ll want reassurances that this was just a freak occurrence.

Source: Reuters

Click Here For Original Source Of The Article

About Ms. A. C. Kennedy

Ms. A. C. Kennedy
My name is Ms A C Kennedy and I am a Health practitioner and Consultant by day and a serial blogger by night. I luv family, life and learning new things. I especially luv learning how to improve my business. I also luv helping and sharing my information with others. Don't forget to ask me anything!

Check Also

Microsoft’s Seeing AI app for the blind now reads handwriting

Artificial intelligence took center stage at Microsoft's AI Summit in San Francisco on Wednesday. Aside from announcing AI smarts for a range of software -- from Bing to Office 365 -- the tech titan is also ramping up its Seeing AI app for iOS, which uses computer vision to audibly help blind and visually impaired people to see the world around them. According to Microsoft, it's nabbed 100,000 downloads since its launch in the US earlier this year, which convinced the tech titan to bring it to 35 countries in total, including the EU.

It's also getting a bunch of new features. The app now boasts more currency recognition, adding British pounds, US dollars, Canadian dollars, and Euros to its tally. Going beyond the color in a scene, it can also spot the color of specific objects, like clothes. Plus, it's no longer restricted to just short printed text, with handwriting recognition now part of its skill set. You can also customize the voice that it uses to speak its observations out loud, and set how fast it talks.

Finally, a musical light detector alerts you to the light in an environment with an audible tone -- Microsoft claims the tool will save users from having to touch a hot bulb or LED battery to check if it's on. Despite the big update, there's still no word on an Android launch.

Source: Microsoft