United Kingdom
United States
Asia Pacific
Virgin Atlantic secures more financial backing from Delta
Virgin Atlantic Airways has announced £400m new investment from shareholders, Virgin Group and Delta Air Lines.
The airline targets a return to sustainable profitability from 2023, driven by a recovery in air travel demand.
It cites more than £300m of cost savings already delivered.
Supported by shareholders and creditors, the airline says it will benefit from pent up customer demand and strong trading for Easter and summer 2022.
"Together with our people, we have proven that we have what it takes to emerge a stronger airline. Throughout, our shareholders Virgin Group and Delta Air Lines, and our creditors, have been a source of unwavering support," Shai Weiss, CEO Virgin Atlantic, said.
The airline will have fully financed new aircraft deliveries through Q2 2024, which is on track to reach a 100% next generation, fuel efficient fleet in early 2027.
Ed Bastian, CEO, Delta Air Lines, said: "Virgin Atlantic’s business has transformed, allowing them to emerge from the pandemic a stronger airline. Together, more customers will be able to take advantage of the many benefits our strategic partnership offers, including a route network serving more than 350 cities in North America, Europe and the UK."
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Exploring Brooklands Museum with Alex Patterson
Global Tourism Challenges and Upcoming Events: A Conversation with Don Welsh
Peebles Barbeque: A Legacy of Flavor and Tradition
Exploring Bok Tower Gardens with Erica Smith
Rue’s Living Water Boat Cruises: Exploring Winter Haven’s Chain of Lakes
Durango and Silverton Railroad: A Timeless Journey Through History and Scenic Beauty
Walt Leger on New Orleans’ Resilience and Major Events Ahead
Cindy Mackin Shares Estes Park’s Winter Thrills
Mark Jaronski of Explore Georgia on FIFA World Cup 2026
Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange
North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
Dozens of bodies recovered from DC river after midair collision
Quake warning in Santorini after hundreds of tremors
Trump Admin vows to end cruise tax loophole
Cockpit tarantula causes flight delays
EasyJet forced into flight emergency landing after pilot collapses