Israel’s Spacecom plans to sue SpaceX

After the satellite that was expected to be launched yesterday was destroyed, Spacecom is preparing to sue SpaceX and Israel Aerospace Industries (IAI). SpaceX was in charge of the satellite’s launch.
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After Israel’s Amos-6 satellite blew up in flames at Cape Canaveral on Thursday, Spacecom is preparing to sue several companies including IAI and the company that was supposed to launch the satellite, SpaceX.

In a statement released to the Tel Aviv Stock Exchange and Israel Securities Authority, the company said that it plans to demand $205 million in compensation. In addition, Spacecom stated that it is planning to sue SpaceX for $50 million.

The Israeli company said that it is working hard to find solutions for its customers. In the statement, the company said that it is preparing to purchase a satellite to replace Amos-6.

Spacecom mentioned that in light of Thursday’s incident, its equity is expected to decrease by about $30 million. In addition, the company also stated that the business deal with Facebook is expected to be nullified.

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