Is there no consequences for dying?

[BFishY ><>]

Seems like the only downside is a 4-6 seconds loading screen or restart to last check point in the mission. Seems too easy. It's often more of an advantage to die then to stay alive (you get full ammo and keep all destruction and spawn at a convinient location)

[Samadhi]

No, just like the last game, death has little consequence.

Its part of what makes it fun and easy to pick up(and put down.)

[Vic Evicerator]

It can break achievement runs.

But not always. One time I was bombing a mining site with a jet and crashed. I went back with another jet, finished bombing, and all of a sudden I got the "I thought this was a Western" achievement - Even though I died, I never left a jet. Weird.