Branson to sell $400m of shares in his Virgin Galactic to save Virgin Atlantic

Virgin Atlantic has announced it will fly to 24 destinations in 2021 after Richard Branson sold $400m of shares in Virgin Galactic to save the airline.
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The Virgin Group has announced that its Vieco investment vehicle is selling up to 25 million shares in Virgin Galactic.  

20% of this money belongs to Branson’s partners in Vieco, Abu Dhabi’s sovereign wealth fund, leaving Virgin Group with $400 million to distribute.

Virgin Galactic said in a statement it will “support its portfolio of global leisure, holiday and travel businesses that have been affected by the unprecedented impact of COVID-19.”

Branson owns 51 percent stake in Virgin Atlantic.

 

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