Virgin Atlantic announces £400m shareholder investment

Virgin Atlantic Airways (Virgin Atlantic) has announced £400m new investment from shareholders, Virgin Group and Delta Air Lines. The airline states that the investment positions Virgin Atlantic to “emerge from the Covid-19 pandemic in a strong financial position and with a bolstered balance sheet, ready to capitalise on market opportunities as demand returns”. The airline anticipates a return to sustainable profitability from 2023, driven by a recovery in air travel demand and more than £300m of cost savings, already delivered. The £400m of new investment is split £204m Virgin Group, £196m Delta Air Lines and the ownership structure remains unchanged;