Virgin Atlantic Boeing 787 9 landing at HKG
Virgin Atlantic has announced a $745 million deal with Apollo Global Management to refurbish the airline’s Boeing 787-9 cabins, as well as other passenger experience improvements, using its slots at London Heathrow Airport (LHR) to secure financing.
On November 13, 2025, Virgin Atlantic reached a deal with Apollo Global Management and its affiliates for a $745 million senior secured financing, which is secured using the airline’s LHR slots.
According to the airline, which mostly flies out of LHR and has a handful of routes from Manchester Airport (MAN), the financing facility will be used to refurbish the cabins of its 787-9 aircraft, “introducing upgraded interiors and expanded Upper Class and Premium cabins from 2028.”
Virgin Atlantic has 17 787-9s in its fleet, with Boeing delivering the aircraft between October 2014 and April 2018. The carrier also has six Airbus A330-300, eight A330-900, and 12 A350-1000s, according to planespotters.net.
While Virgin Atlantic also noted that ten of its Airbus A330-900s with new cabins should start arriving in Q3 2026, it did not explicitly mention that the financing facility will be used to fund the deliveries of these widebodies. Still, it added that the financing will support the airline’s “commitment to service and product innovation, enabling the rollout of free, streaming quality Wi-Fi powered by Starlink across the entire fleet.”
Shai Weiss, the Chief Executive Officer (CEO) of Virgin Atlantic, said that the agreement strengthens its balance sheet and will enable the airline to deliver its vision of becoming the “most loved travel company.”
“We are 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 and Samuele Cappelletti, two Partners at Apollo, described the financing solution as “bespoke” and “creative,” with the latter adding that the company believes Virgin Atlantic “is well-positioned for continued success with its differentiated offering in aviation.”
Data from Airport Coordination Limited (ACL), a United Kingdom-based independent slot coordinator, showed that Virgin Atlantic began the winter 2025/2026 season with 9,888 total movements from/to LHR, 802 more compared to the end of the previous winter season.
ACL’s records also showed that on November 11 and November 12, Virgin Atlantic received six and 14 slots from Kuwait Airways and Saudia, respectively.
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