Virgin Galactic Seeks Investor

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.