Virgin Atlantic (VS, London Heathrow) has secured a USD745 million loan from American asset management firm Apollo Global Management, using its London Heathrow take-off and landing slots as collateral.
The airline plans to use the funds to strengthen its balance sheet, upgrade aircraft cabins, and finance free on-board WiFi.
Announcing the deal in a joint statement, Virgin Atlantic said that the financing will support the "complete refurbishment" of its B787-9 fleet, introducing "upgraded interiors and expanded Upper Class and Premium cabins from 2028."
The airline also said that ten new A330-900N aircraft would join the fleet from the third quarter of 2026. It added that the financing would fund their premium cabins and "suites", as well as "WiFi powered by Starlink across the entire fleet".
The airline operates a fleet of 42 in-house aircraft, including seventeen B787-9s, twelve A350-1000s, eight A330-900Ns, and five A330-300s, and it has sixteen A330-900Ns on order.
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