Britain's Sir Richard Branson reinforced his reputation as an entrepreneurial showman yesterday when he announced a $100m (£60m) plan to send tourists into space. His new company - Virgin Galactic - will be the world's first commercial space travel business.

A fleet of five Virgin spacecraft will carry 3,000 passengers into space between 2007 and 2012, Sir Richard told a press conference at the Royal Aeronautical Society in London.