Spacecom to receive a cheque: $196 million

Spacecom has told the Tel Aviv Stock Exchange that it will receive a cheque for $196 million from Israel Aerospace Industries (IAI), as an insurance payment on its lost Amos 6 satellite.

It’s due to receive payment on the Facebook satellite by November 24.

The spacecraft was destroyed during an explosion on the Space X Falcon 9 rocket during pre-flight testing in Florida.

But the sum does not include the $10 million in damages Spacecom says it’s owed for the late delivery of the satellite in the first place.

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