Airline
Virgin Galactic Seeks Investor
Virgin Galactic, the space travel company founded by Sir Richard Branson, is struggling to find an investor. Credit Suisse says Branson’s “greenfield” project faces big challenges in finding an investor given the current economic climate and uncertainty about the project. Credit Suisse is the investment advisor that to Virgin Galactic for its $280 million dollar with Aabar Investments in Abu Dhabi last month.
Jeffrey Culpepper a Credit Suisse executive, explained “There tends to be skepticism about space travel”, but “Credit Suisse has a long history with Virgin and once we assessed the strength of the economics, we were determined the project is achievable.” Mr. Culpepper is head of the investment banking department at Credit Suisse MENA (Middle East and North Africa). Last month Aabar purchased a 32% share of Virgin Galactic valued at $280 million. They valued the space tourism company at $900 million. Aabar plans to build a spaceport in Abu Dhabi which will house a university academy where students can study space.
More Airline
Latest Travel News
Featured Sights To See
Hugh Lane Gallery
Dublin, Ireland
The Hugh Lane Gallery serves as Dublin's museum of modern art and was the first of its kind in the world. It was founded in 1908 by none other than Hugh Lane, an Irish art dealer who died on the RMS Lusitania. The collection moved to the Charlemont House in 1933. This handsome dark grey Neo-classical mansion was built by famed Scottish architect Sir William Chambers. Today t...
Petronas Towers
Kuala Lumpur, Malaysia
The Southeast Asian equivalents of the Empire State Building, the Petronas Towers are Kuala Lumpur’s most iconic buildings. They were the tallest in the world from their completion in 1998 until 2004, when they were surpassed by Taipei 101. The Petronas Towers rise to a height of 378m (450m including the spires). The frame was constructed with reinforced concrete, and becau...
Cape of Good Hope Nature Reserve
Cape Town, South Africa
This is one of the most well known tourist hotspots in Cape Town. Visitors can spend much of the day picnicking and barbequing in addition to admiring and appreciating the scenic beauty of this reserve where the beaches and the cliffs are a sight to behold. Tourists can also appreciate the diversity of wildlife; with respect to the various species of animals and birds that inhabit the place. Zebra...
The Sorbonne
Paris, France
The University of Paris was first established sometime in the mid-12th century, but it was not until Robert de Sorbon created the campus of the Collége de Sorbonne in 1257 that it began to resemble anything like a modern university. Previously, the university had been disorganized, and students were forced to find accommodations around the city. The Sorbonne hosted students from all ov...