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When a spacecraft is destroyed while an avatar holds the captain's berth or an officer berth, it is saved in stasis. A spacecraft in stasis can then be respawned later if the avatar doesn't release the berth.
It is however not possible to respawn a spacecraft that was lost in the non-PvP zone in the PvP zone, and vise versa.
When a spacecraft is recalled from stasis it will have most of the damage it had at the time of destruction, but some of the critical systems are repaired to a minimum operating state: all control consoles, maneuver drive and power plant repaired up to 95% damaged if worse, one life support unit repaired if none are functioning.