Blue Origin's New Shepard rocket is launched into space in Texas in July 2021. AP/File
Blue Origin's New Shepard rocket is launched into space in Texas in July 2021. AP/File
Blue Origin's New Shepard rocket is launched into space in Texas in July 2021. AP/File
Blue Origin's New Shepard rocket is launched into space in Texas in July 2021. AP/File

Business

Will inter-city space travel replace business jet flights in the near future?

The market could be worth about $7bn in terms of revenue for operators by 2040, Citi report says

Ian Oxborrow
Ian Oxborrow

May 13, 2022

  • English
  • Arabic

Inter-city space travel could take away market share from long-haul business jet flights in the future, as it gradually becomes more mainstream and cheaper, according to a report.

Space travel is picking up momentum amid better safety measures and lower launch costs, with recent flights taken by “tourists” such as billionaires Richard Branson and Jeff Bezos, the founder of Virgin and Amazon, respectively.

As commercial passengers become more comfortable with the prospect of space travel, cheaper inter-city, long-haul passenger travel on “Domestic Earth” routes will be enabled, the report by Citi said.

“The high ticket price would mean it is unlikely to take market share from long-haul wide-body flights — but it could take market share from long-haul business jet flights,” it said.

The report estimates that it would cost about $100,000 to $200,000 for a long-haul, inter-city rocket trip.

“With an occupancy of one to six passengers, this gives a range of $20,000 to $200,000 per ticket, with an average ticket price of [roughly] $100,000,” the report said.

“This compares to a Gulfstream G650, which costs [about] $5,000 per hour, or $30,000 on a nearly six-hour trip, and is typically flown with only one to two passengers.

“This makes inter-city rocket travel a viable premium alternative to long-haul business jet travel for ultra-high net worth individuals, with a much quicker travel time.”

Billionaire businessman Jeff Bezos embraces veteran aviator Wally Funk after Blue Origin’s reusable New Shepard craft capsule returned from space on Tuesday, July 20, 2021.
Billionaire businessman Jeff Bezos embraces veteran aviator Wally Funk after Blue Origin’s reusable New Shepard craft capsule returned from space on Tuesday, July 20, 2021.
Jeff Bezos, Funk and and gap-year student Oliver Daemen, 18, disembark after Blue Origin’s reusable New Shepard capsule returned from space.
Jeff Bezos, Funk and and gap-year student Oliver Daemen, 18, disembark after Blue Origin’s reusable New Shepard capsule returned from space.
Jeff Bezos disembarks after the flight.
Jeff Bezos disembarks after the flight.
New Shepard touches down on Earth.
New Shepard touches down on Earth.
New Shepard approaches the ground.
New Shepard approaches the ground.
The capsule carrying Jeff Bezos and three crew members returns to Texas by parachute.
The capsule carrying Jeff Bezos and three crew members returns to Texas by parachute.
The booster rocket returns to the launch pad.
The booster rocket returns to the launch pad.
The rocket lifts off.
The rocket lifts off.
The launch viewed from far.
The launch viewed from far.
The rocket is launched on the world’s first unpiloted suborbital flight.
The rocket is launched on the world’s first unpiloted suborbital flight.
It took off from Blue Origin’s launch site, near Van Horn in western Texas, US.
It took off from Blue Origin’s launch site, near Van Horn in western Texas, US.
Blue Origin’s New Shepard rocket is launched from its spaceport.
Blue Origin’s New Shepard rocket is launched from its spaceport.
The rocket lift-off.
The rocket lift-off.
The launch pad. Blue Origin’s first crewed mission was an 11-minute flight from Texas and back. Reaching an altitude of 106 kilometres, it coincided with the 52nd anniversary of the first Moon landing.
The launch pad. Blue Origin’s first crewed mission was an 11-minute flight from Texas and back. Reaching an altitude of 106 kilometres, it coincided with the 52nd anniversary of the first Moon landing.
People watch on a television screen as the rocket sits on the launch pad.
People watch on a television screen as the rocket sits on the launch pad.
The crew members prepare for the flight.
The crew members prepare for the flight.
The crew members prepare for the flight.
The crew members prepare for the flight.
Jeff Bezos, the founder of Amazon.com, rings a bell before boarding the flight.
Jeff Bezos, the founder of Amazon.com, rings a bell before boarding the flight.
This still image taken from video by Blue Origin shows Funk, Daemen and the Bezos brothers before they leave for the flight.
This still image taken from video by Blue Origin shows Funk, Daemen and the Bezos brothers before they leave for the flight.
A monitor in a zone reserved for the media shows Wally Funk being interviewed.
A monitor in a zone reserved for the media shows Wally Funk being interviewed.
This still image taken from video by Blue Origin shows Funk, Jeff and Mark Bezos, and Daemen as they ascend the crew tower for the flight.
This still image taken from video by Blue Origin shows Funk, Jeff and Mark Bezos, and Daemen as they ascend the crew tower for the flight.
This still image taken from video by Blue Origin shows, from left, Mark Bezos, Jeff Bezos, Wally Funk and Oliver Daemen as they travel to the launch pad.
This still image taken from video by Blue Origin shows, from left, Mark Bezos, Jeff Bezos, Wally Funk and Oliver Daemen as they travel to the launch pad.
Jeff Bezos, his brother Mark Bezos, a private equity executive, Wally Funk and Oliver Daemen pose in an undated photograph.
Jeff Bezos, his brother Mark Bezos, a private equity executive, Wally Funk and Oliver Daemen pose in an undated photograph.

The market for inter-city space passenger travel could be worth close to $7 billion in terms of revenue for operators by 2040, assuming that it can capture about 20 per cent of the long-haul business jet market, Citi forecasts.

On the potential for competition with long-haul wide-body flights, Citi does not believe the pricing will be competitive enough unless it reaches SpaceX Starship's target of $10 a kilogram.

Today’s launch costs are at $1,500 per kg but about 30 times less than the launch cost of Nasa’s Space Shuttle in 1981.

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“We forecast that launch costs will fall another 95 per cent [roughly], to [around] $100 per kg by 2040, driven by reusability, scale, lower input costs and cost-efficient production methods,” Citi said.

Several companies have been pursuing space tourism in recent years as demand gathers pace.

Virgin Galactic had more than 600 passengers signed up at a price of $250,000 each for a flight to the edge of space. However, it stopped sales in 2014 after a fatal accident on one of its test flights.

After the successful flight of the VSS Unity in July 2021, which included Mr Branson, the company has since reopened ticket sales, starting at $450,000 a seat.

Mr Branson beat Blue Origin founder Jeff Bezos in their billionaire space race by a few days.

Blue Origin announced the next six people it will launch on its New Shepard rocket but has yet to release a flight date for the NS-21 mission or disclose how much the passengers paid.

In March, its fourth manned flight landed successfully in rural west Texas after taking half a dozen passengers for a 10-minute suborbital joyride.

Past crew members have included Star Trek actor William Shatner and morning TV host Michael Strahan.

Axiom Space has plans to build a private space station and arrange commercial trips using SpaceX’s Dragon Capsule, while SpaceX has also agreed to fly several commercial passengers, including Japanese billionaire Yusaku Maezawa, around the Moon in 2023.

On Women's Day
When Umm Kulthum performed in Abu Dhabi

  

 

 

 

Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.

 
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ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

The biog

Title: General Practitioner with a speciality in cardiology

Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India

Education: Medical degree from the Government Medical College in Nagpur

How it all began: opened his first clinic in Ajman in 1993

Family: a 90-year-old mother, wife and two daughters

Remembers a time when medicines from India were purchased per kilo

Killing of Qassem Suleimani
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More on this story:
On Women's Day
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A cheaper choice

Vanuatu: $130,000

Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.

Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.

Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.

Benefits:  No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.

UAE cricketers abroad

Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.

Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.

Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.

ADCC AFC Women’s Champions League Group A fixtures

October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA

While you're here
Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier

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LA LIGA FIXTURES

Friday (UAE kick-off times)

Levante v Real Mallorca (12am)

Leganes v Barcelona (4pm)

Real Betis v Valencia (7pm)

Granada v Atletico Madrid (9.30pm)

Sunday

Real Madrid v Real Sociedad (12am)

Espanyol v Getafe (3pm)

Osasuna v Athletic Bilbao (5pm)

Eibar v Alaves (7pm)

Villarreal v Celta Vigo (9.30pm)

Monday

Real Valladolid v Sevilla (12am)

 

MATCH INFO

FA Cup final

Chelsea 1
Hazard (22' pen)

Manchester United 0

Man of the match: Eden Hazard (Chelsea)

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The biog

Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."

Favourite author: Malcom Gladwell 

Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Fast%20X
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Louis%20Leterrier%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Vin%20Diesel%2C%20Michelle%20Rodriguez%2C%20Jason%20Statham%2C%20Tyrese%20Gibson%2C%20Ludacris%2C%20Jason%20Momoa%2C%20John%20Cena%2C%20Jordana%20Brewster%2C%20Nathalie%20Emmanuel%2C%20Sung%20Kang%2C%20Brie%20Larson%2C%20Helen%20Mirren%20and%20Charlize%20Theron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives 
Where to apply

Applicants should send their completed applications - CV, covering letter, sample(s) of your work, letter of recommendation - to Nick March, Assistant Editor in Chief at The National and UAE programme administrator for the Rosalynn Carter Fellowships for Mental Health Journalism, by 5pm on April 30, 2020. 

Please send applications to nmarch@thenational.ae and please mark the subject line as “Rosalynn Carter Fellowship for Mental Health Journalism (UAE programme application)”.

The local advisory board will consider all applications and will interview a short list of candidates in Abu Dhabi in June 2020. Successful candidates will be informed before July 30, 2020. 

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UAE currency: the story behind the money in your pockets
While you're here

Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E77kWh%202%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E178bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E410Nm%0D%3Cbr%3E%3Cstrong%3ERange%3A%20%3C%2Fstrong%3E402km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh%2C150%2C000%20(estimate)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ETBC%3C%2Fp%3E%0A
A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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Profile of MoneyFellows

Founder: Ahmed Wadi

Launched: 2016

Employees: 76

Financing stage: Series A ($4 million)

Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
MWTC

Tickets start from Dh100 for adults and are now on sale at www.ticketmaster.ae and Virgin Megastores across the UAE. Three-day and travel packages are also available at 20 per cent discount.

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
%3Cp%3EBy%202030%2C%20Abu%20Dhabi%20aims%20to%20achieve%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2039.3%20million%20visitors%2C%3C%2Fstrong%3E%20nearly%2064%25%20up%20from%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20Dh90%20billion%20contribution%20to%20GDP%2C%3C%2Fstrong%3E%20about%2084%25%20more%20than%20Dh49%20billion%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20178%2C000%20new%20jobs%2C%3C%2Fstrong%3E%20bringing%20the%20total%20to%20about%20366%2C000%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2052%2C000%20hotel%20rooms%2C%3C%2Fstrong%3E%20up%2053%25%20from%2034%2C000%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%207.2%20million%20international%20visitors%2C%3C%2Fstrong%3E%20almost%2090%25%20higher%20compared%20to%202023's%203.8%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%203.9%20international%20overnight%20hotel%20stays%2C%3C%2Fstrong%3E%2022%25%20more%20from%203.2%20nights%20in%202023%3C%2Fp%3E%0A
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UAE currency: the story behind the money in your pockets
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A

Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

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Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
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The%20specs
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3C%2Fstrong%3E%3A%20ASI%20(formerly%20DigestAI)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Quddus%20Pativada%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Artificial%20intelligence%2C%20education%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%243%20million-plus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GSV%20Ventures%2C%20Character%2C%20Mark%20Cuban%3C%2Fp%3E%0A
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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.

 

Updated: May 13, 2022, 4:30 AM`
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