Sir Richard Branson is selling a stake in Virgin Galactic to raise $500m to prop up his other businesses including Virgin Atlantic.
The billionaire has been criticised for seeking financial help from the government for the airline.
Sir Richard will now sell a share of his space exploration business.
Virgin Group said it will use the proceeds to support its "leisure, holiday and travel businesses" hit by "the unprecedented impact" of Covid-19.
Virgin Atlantic said last week it would cut more than 3,000 jobs and end its operation at Gatwick.
Airlines have been struggling as the coronavirus pandemic brought global travel almost to a halt.
https://news.google.com/__i/rss/rd/articles/CBMiLGh0dHBzOi8vd3d3LmJiYy5jby51ay9uZXdzL2J1c2luZXNzLTUyNTk2Mjcz0gEwaHR0cHM6Ly93d3cuYmJjLmNvLnVrL25ld3MvYW1wL2J1c2luZXNzLTUyNTk2Mjcz?oc=5
2020-05-11 13:43:13Z
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