A launch going up in smoke (5)

I believe the answer is:

afire

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'going up in smoke' is the definition.
(I've seen this in another clue)

'a launch' is the wordplay.
'launch' becomes 'fire' (I can't explain this - if you can you should believe this answer much more).
'a'+'fire'='AFIRE'

Can you help me to learn more?

(Other definitions for afire that I've seen before include "Alight" , "in flames" , "Burning" , "lit up" , "Ablaze" .)

I've seen this clue in the Sydney Morning Herald.

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