Dolomite, the 1 minute (or 30 sec) is an option, you can re-launch immediatley from another base or sit and wait, but you can't leave from the base you just left from last time.
EG... I have launched from F1 to fly a cap mission over F1. I have been shot down and killed.
I may,
1) wait 30 secs and re-launch from F1 or,
2) I may launch from another base right now.
If you land safely at any base, the penalty doesn't count. If you ditch, maybe a 15 second penalty.
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Sledriver
(The MAD BOMBER)