Astrium's stunning "spacejet" (continued)

After slowing down during descent, the jet engines are restarted for a normal and safe landing at a standard airfield.

The entire trip will last approximately an hour and a half. Safe and economical Astrium is proposing the one stage system as it is considered the safest and most economical to operate.

If development begins in 2008, the first commercial flight could be possible by 2012. And the cost? About 200, 000 Euros ($US268,000), says Astrium.

Passengers will need to train for about a week.

The company says the development of a new vehicle able to operate in altitudes between aircraft (20km) and below satellites (200 km) could well be a precursor for rapid transport ‘point-to-point’ vehicles or quick access to Space - opening up previously unexplored territory.

It says its development will contribute to maintaining (and even enhancing) European competences in core technologies of Space Transportation. As the single industrial prime contractor for Ariane 5, the main European contributor to the International Space Station and as a wholly owned subsidiary of EADS, Astrium has the necessary expertise and know-how for manned space flight.

Financing As it is a commercial project, private capital will be the main source of funding.

The financial envelope, which will be around one billion euros, could be completed by refundable loans and by regional development funding.

Return on investment will come from operations of vehicles for the emerging and promising market of suborbital space tourism.