Apollo-managed funds have completed a $745m senior secured financing package for Virgin Atlantic, providing capital for fleet upgrades and continued investment in the airline’s premium offering.

The transaction is secured against Virgin Atlantic’s portfolio of take-off and landing slots at London Heathrow. The proceeds will strengthen the balance sheet and support long-term investment across the fleet, including a full refurbishment of the Boeing 787-9 aircraft and the introduction of ten Airbus A330neo aircraft from the third quarter of 2026. These aircraft will feature larger premium cabins and six Retreat Suites.

The financing will also support the airline’s rollout of free, streaming-quality Wi-Fi across its entire fleet, enabled by Starlink.

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

Apollo Partner Samuele Cappelletti added that “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.”

Gibson Dunn acted as legal counsel to Apollo-managed funds and affiliates. Citigroup served as placement agent, transaction advisor, and rating advisor to Virgin Atlantic.

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