Sir Richard Branson is set to invest £215m into his Virgin business in order to protect jobs during the coronavirus pandemic. 

The businessman announced the news in a blog post which stated that his companies in the travel and leisure industries were in a 'massive battle to survive'.

The 69 year-old described coronavirus as the 'the most significant crisis the world has experienced' in his lifetime. 

His Virgin empire employs more than 70,000 people in 35 countries and continues to face pressure everyday as the spread of the virus escalates.

He wrote: "Our airlines have had to ground almost all their planes; our cruise line has had to postpone its launch; our health clubs and hotels have had to close their doors and all bookings to our holiday company have stopped.

"Our people have and, will always be, my number one priority. It is their future job security and their well-being that I am 100 per cent focusing on, in these frightening and unprecedented times."

And he believes chances of securing economic recovery will depend 'critically upon governments around the world' and their support.