Virgin Atlantic uses slots to fund fleet projects

LONDON - Virgin Atlantic drafts a fleet investment plan. London Heathrow slots will serve as collateral for the loan.

Fresh cabins for its Boeing 787-9s and ten additional Airbus A330-900s from the end of 2026: Virgin Atlantic is putting together a fleet investment package. The airline is taking a 745 million US load from US investor Apollo to fund the fleet overhaul.

Virgin Atlantic is using 27 of its 31 slot pairs at London Heathrow as collateral for the loan, which will mature for repayment by 2030. Virgin Atlantic had already used valuable Heathrow slots as collateral for a loan in 2015.