The turbulent wake of a planar generic space launcher equipped with a dual-bell nozzle is numerically investigated to examine the interaction of the dual-bell nozzle jet and the wake flow. The simulation is performed at transonic freestream condition, i.e., freestream Mach number $Ma_{\infty }= 0.8$ and freestream Reynolds number based on the launcher thickness ReD = 4.3 ⋅ 105, with the dual-bell nozzle operating at sea-level mode. A zonal RANS/LES approach is used and the time-resolved flow field data is analyzed by classical spectral analysis and modal decomposition techniques, i.e., proper orthogonal decomposition (POD) and dynamic mode decomposition (DMD). The overall flow topology of the recirculation region downstream of the base and the pressure loads on the outer nozzle fairing are only slightly affected by the modified nozzle shape. However, the changed nozzle flow topology characterized by the flow separation at the nozzle contour inflection leads to a backflow region and an entrainment of the outer flow into the nozzle extension which results in increased pressure loads on the inner nozzle wall. Using spectral, POD, and DMD analyses, the outer wake flow is investigated, revealing a growing and contracting of the separation bubble and an undulating motion of the shear layer similar to the “cross-pumping” and “cross-flapping” motion detected in previous investigations of a configuration with a classical nozzle and a jetless backward facing step setup. The spectral and modal analysis of the nozzle flow shows that the increased pressure loads detected at the inner wall of the nozzle extension are caused by an interaction of the separated shear layer inside the nozzle extension with the shock pattern that leads to a streamwise oscillation of the shock and a pumping or wave-like motion of the shear layer.