PHOTO: Guests stand oustside the new Spaceport America hanger Monday, Oct. 17, 2011 in Upham, N.M. British billionaire Richard Branson dedicated the newly completed terminal Monday where his Virgin Galactic is slated to begin his commercial space tourism venture from the remote patch of desert in Sierra County. (AP Photo/Matt York)
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UPHAM, N.M. — With his usual flare, British billionaire Richard Branson repelled from a balcony, shook up a bottle of champagne and took a swig while christening the world’s first built-from-scratch commercial spaceport.

In a remote patch of desert in southern New Mexico, Spaceport America is where Branson’s Virgin Galactic will stage its commercial space tourism venture.

Branson, Gov. Susana Martinez, and astronaut Buzz Aldrin were among the hundreds of people gathered at the spaceport terminal hangar facility for Monday’s dedication.

Branson describes the building as magnificent.

He says he hopes enough powered test flights of Virgin Galactic’s sleek spacecraft can be done by the end of 2012 to start commercial suborbital flights from the spaceport.

More than 450 people have purchased tickets to fly with Virgin Galactic. About 150 attended the ceremony.

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