Michiel Mol, a Formula One tycoon, has teamed up with the Dutch airline, KLM, that would provide sub-orbital flights for space tourists. Tickets are to be priced at $95,000 USD each, just about half of what competitor Virgin Galactic charges ($200,000). The initiative also promises 2 hour or less travel time between any major cities in world.

Over the weekend, Michiel Mol said:

Being able to travel from London to Sydney in an hour and 45 minutes, that is the future. It is also the reason why KLM joined our firm [Space Expedition Curacao] as a partner.

They themselves started a hundred years ago with sightseeing tours above Amsterdam, and now we have an immense aviation industry.

…When we get to the point that travelling through space is two or three times [the cost of] a business-class long-distance flight then I think there will be millions of people who would prefer to be in Sydney in a little more than 1 and a half hours instead of 24 hours.

Passengers will be required to pass a series of physical tests in order to be accepted on a trip.

The first spaceship will travel at 2,200 mph, but the second generation will need to reach a velocity of 13,750 mph to achieve the desired orbit, over 6 times faster than is currently possible.

For more information about the XCOR Lynx space plane and SpaceXC, you can visit their site.