Gulf firm joins race to put tourists in space

An Abu Dhabi investment group has joined the race to put tourists in space by agreeing to buy a stake in the world's first commercial space travel operator, the two companies said on Tuesday.

Subject to regulatory clearance, Aabar Investments will buy about a 32 percent stake in the holding company of Virgin Galactic for US $280 million, valuing the business at around 900 million dollars.

"The significant partnership not only falls in line with Abu Dhabi's larger plans to inculcate technology research and science at a grassroots level but also complements its aim to be the international tourism capital of the region," Khadem al-Qubaisi, chairman of Aabar, said. AFP