Apollo Global Management has completed a $745 million financing deal with Virgin Atlantic Airways to strengthen its financial position and enhance its fleet and services.

Target Information

Virgin Atlantic Airways, founded in 1984 by entrepreneur Sir Richard Branson, has established a reputation for innovation and exceptional customer service in the aviation sector. Currently, Virgin Group holds a 51% stake in the airline, while Delta Air Lines owns the remaining 49%. As one of the UK's leading airlines, Virgin Atlantic has consistently focused on enhancing the travel experience for its passengers.

The airline recently secured a $745 million senior secured financing deal aimed at bolstering its financial position and supporting ongoing investments. The funds will primarily be used for the refurbishment of its Boeing 787-9 fleet and to introduce new aircraft to its lineup, thereby improving the overall quality of its services.

Industry Overview

The aviation industry in the UK, particularly at major airports like London Heathrow, is one of the largest and most competitive globally. Despite challenges posed by fluctuating demand and economic uncertainties, the sector is on a p