The first-ever commercial rocket launched at Brazil's Alcantara Space Center crashed soon after liftoff late earlier this week, dealing a blow to Brazilian aerospace ambitions and shares of South Korean satellite launch company Innospace. From a report: The rocket began its vertical trajectory as planned after liftoff [Monday] at 10:13 p.m. local time (0113 GMT) but fell to the ground after something went wrong 30 seconds into its flight, Innospace CEO Kim Soo-jong said in a letter to shareholders.
The craft crashed within a pre-designated safety zone and did not harm anyone, he said. Brazil's air force said firefighters were sent to analyze the wreckage and impact zone. "We are deeply sorry that we failed to meet the expectations of our shareholders who supported our first commercial launch," the CEO wrote in the letter, which was posted on the company's website on December 23. Innospace shares plunged nearly 29% in Seoul in its biggest daily drop and heaviest daily trading volume since its July 2024 listing.
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