Virgin Atlantic boosts coffers with $745m Heathrow slots loan

Virgin Atlantic will invest in its fleet following the completion of a $745 million loan agreement based on its take-off and landing slots at Heathrow.

In a statement, the airline said the senior secured financing deal with asset management firm Apollo will “further strengthen Virgin Atlantic’s balance sheet and fund the airline’s continued investment in its award-winning premium customer experience”.

This includes the complete refurbishment of its Boeing 787-9 fleet, introducing upgraded interiors and expanded Upper-Class and Premium cabins from 2028.

From the third quarter of 2026, 10 new Airbus A330neo aircraft will also join the fleet, featuring expanded premium cabins and six Retreat Suites.

The financing will also support the introduction of free, streaming quality Wi-Fi across the fleet, powered by Starlink.

Shai Weiss, chief executive of Virgin Atlantic, said: “Today’s agreement marks an important milestone as we continue to strengthen our balance sheet and deliver on our vision to become the most loved travel company.

“We’re delighted to partner with Apollo on this transaction, and for their confidence in Virgin Atlantic, as we invest in delivering the best experience in the skies for our guests.”

Ben Eppley, Apollo partner, said: “We are pleased to partner with Virgin Atlantic on this transaction, which demonstrates our ability to provide bespoke, scaled financing solutions to leading businesses.”

Samuele Cappelletti, Apollo partner, added: “This creative, asset-backed structure unlocks important capital investment for Virgin Atlantic, a strong, established brand that we believe is well-positioned for continued success with its differentiated offering in aviation.”