Read data on SSD Card if removed?

This is the problem with contemporary ultrabook laptops, they no longer have removable drives anymore as they use memory chips that are welded to the mainboard.

To the best of my knowledge, if an SSD goes bad the data cannot be recovered. The only hope may be if the Apple repair folks can or will be able to recover any data if the board can be repaired. If not, the data is a total loss.

With the advent of SSD technology, it is even more important to have some kind of backup device or service backing up to a device or cloud service. Old hard drives failed often but if the platter was okay you could pay for expensive data recovery services and get the data. SSD's just are not made the same way and can't be opened up.

If you still have warranty I wouldn't try anything to my macbook air, but if not, try open it, remove the ssd and put it in a special case to read it like an USB hard drive, you will see if the SSD is OK.

I would be surprised if water damaged the SSD, usually, the mac has security to power off the electricity before damage anything. Somehow, logic board would be broken by rust, but ssd should be fine in most case.