While we thought their collection of songs for an playlist in space was just a joke, it looks like Virgin Galactic is still really serious about putting civilian folks into space. Richard Branson reportedly sold about a third of the space travel start-up to a Middle Eastern investment fund to speed up the
British billionaire Sir Richard Branson signed a deal Tuesday to sell about a third of his space travel startup Virgin Galactic to a Mideast investment fund, giving the venture an influx of cash at a time when the global recession has dried up funding sources.
Aabar Investments will pay $280 million for a 32 percent share of the company, according to the agreement that also gives the wealthy Persian Gulf sheikdom of Abu Dhabi a chance to set up its own space flight industry.
Branson of course, conducted the signing much like he does anything else related to his Virgin companies: he don a black Virgin flight suit and took his first ride in the WhiteKnightTwo aircraft, designed to launch a ship into space (pictured, above, last summer). Virgin Galactic is expected to take off from Sweden in 2012 with flight tickets costing $200,000 a piece. Hmmm...we'll see about that.
Related Stories:
· Virgin Galactic Will Depart from Spaceport Sweden in 2012 [Jaunted]
· Virgin Galactic Launch: More Photos of White Knight Two [Jaunted]
· Space travel startup Virgin Galactic gets $280M boost from Abu Dhabi fund buying 32 pct share [AP via Chicago Tribune]]]>