Business

Virgin Atlantic's $745 million deal leverages Heathrow slots for fleet upgrades and Starlink Wi-Fi rollout

Friday, 14 November 2025 5:06AM UTC

Virgin Atlantic secures $745 million from Apollo using coveted Heathrow take-off and landing slots, enabling fleet refurbishment and the introduction of free Starlink Wi-Fi across transatlantic flights, signalling a new era of premium airline innovation.

Apollo and Virgin Atlantic Airways have finalised a significant $745 million senior secured financing package, leveraging the airline’s prized take-off and landing slots at London Heathrow Airport. The slots, highly coveted and known to trade for tens of millions due to Heathrow’s status as one of the world’s most congested and valuable aviation hubs, underpin this transaction. The deal strengthens Virgin Atlantic’s financial position and enables the airline to continue investing in its upscale travel experience.

The capital injection is earmarked for several key initiatives. Paramount among these is a comprehensive refurbishment of Virgin Atlantic’s Boeing 787-9 fleet, scheduled to begin in 2028. This overhaul will introduce upgraded interiors, larger Upper-Class suites, and enhanced Premium cabins. Additionally, the carrier plans to introduce ten new Airbus A330neo aircraft starting in the third quarter of 2026. These new planes will feature expanded premium cabins and will include six exclusive Retreat Suites designed for ultimate luxury, underscoring Virgin Atlantic’s focus on elevating passenger comfort.

Another major innovation fostered by the funding is the fleet-wide introduction of complimentary high-speed Wi-Fi powered by Starlink, the first offering of its kind by a UK airline on transatlantic flights. This service promises seamless internet connectivity at cruising altitude, supporting multiple uses such as work, streaming, and leisure, enhancing the overall passenger experience.

Commenting on the deal, Ben Eppley, a partner at Apollo, highlighted the firm's commitment to supporting premier brands through tailored financing solutions. His colleague, Samuele Cappelletti, described the deal as an asset-backed structure that releases critical capital for Virgin Atlantic, noting the airline’s unique market position and strong potential for long-term success. Virgin Atlantic CEO Shai Weiss described the agreement as a milestone that reinforces the company’s balance sheet and advances its ambition to be the most loved travel company. Weiss emphasised that Apollo’s trust empowers the airline’s customer-first vision, including operating the youngest transatlantic fleet complemented by free streaming Wi-Fi and planned upgrades to premium cabins.

The transaction involved several key advisors, with Gibson Dunn providing legal counsel for Apollo-managed funds, while Citigroup acted as placement agent and transaction advisor. Herbert Smith Freehills offered advisory services to Virgin Atlantic.

Founded in 1984 by Sir Richard Branson, Virgin Atlantic has grown into a brand associated with bold innovation and exceptional service. The Virgin Group holds a majority stake of 51%, with Delta Air Lines owning the remaining 49%. This financing deal not only injects immediate liquidity but strategically positions Virgin Atlantic to capitalize on evolving industry demands by enhancing its premium air travel offerings through the effective utilisation of its scarce Heathrow slots.

Looking ahead, the financing supports Virgin Atlantic’s ambition to modernise its fleet alongside technological enhancements. The rollout of Starlink Wi-Fi across the Boeing 787, Airbus A350, and A330neo aircraft starting in mid-2026 aligns with the airline’s goal to create a ‘home away from home’ connectivity experience. Meanwhile, the introduction of ten A330neo aircraft and refurbishment of the Boeing 787-9 fleet will help the airline sustain its reputation for luxury and innovation within the competitive transatlantic market.

This transaction illustrates a growing trend of airlines leveraging valuable airport assets to secure funding that enables fleet and service upgrades amid an evolving aviation landscape. Virgin Atlantic’s approach of combining fleet modernisation with cutting-edge inflight connectivity reflects broader industry efforts to meet rising customer expectations and maintain competitiveness in premium long-haul travel.

📌 Reference Map:

^[1] (Aviation Source News) - Paragraphs 1, 2, 3, 4, 5, 6, 7
^[2] (Virgin Atlantic Corporate) - Paragraphs 2, 3, 4
^[3] (FlightGlobal) - Paragraph 2
^[4] (Business Traveller) - Paragraph 3
^[5] (PR Newswire) - Paragraph 4
^[6] (Virgin Atlantic Corporate) - Paragraph 4
^[7] (Travelling for Business) - Paragraph 2, 3

Source: Noah Wire Services

More on this

https://aviationsourcenews.com/virgin-atlantic-secures-745m-funding-against-heathrow-slots/ - Please view link - unable to able to access data
https://corporate.virginatlantic.com/gb/en/media/press-releases/apollo-and-virgin-atlantic-complete-financing-solution.html - Virgin Atlantic and Apollo have completed a $745 million senior secured financing of Virgin Atlantic’s portfolio of take-off and landing slots at London Heathrow. The funds will strengthen Virgin Atlantic’s balance sheet and support investment in its premium customer experience, including refurbishing its Boeing 787-9 fleet with upgraded interiors and expanded Upper-Class and Premium cabins from 2028. Additionally, ten new Airbus A330neo aircraft will join the fleet from Q3 2026, featuring expanded premium cabins and six luxurious Retreat Suites. The financing also enables the rollout of free, streaming-quality Wi-Fi powered by Starlink across the entire fleet.
https://www.flightglobal.com/airlines/virgin-atlantic-secures-heathrow-slot-based-financing-for-fleet-investment/165288.article - Virgin Atlantic has secured a $745 million financing against its valuable slot portfolio at London Heathrow. The proceeds will fund improvements such as refurbishing its Boeing 787-9s with new interiors from 2028 and introducing ten Airbus A330neos from the third quarter of next year. The funds will also support the rollout of Wi-Fi upgrades across the fleet.
https://www.businesstraveller.com/news/virgin-atlantic-2026-investment/ - Virgin Atlantic has announced plans to completely refurbish its Boeing 787-9 fleet starting in 2028, with ten Airbus A330neos expected to arrive in the third quarter of 2026. The upgrades will include expanded Upper Class and Premium cabins, with six Retreat Suites available on each A330neo. Additionally, there will be a fleet-wide rollout of free, high-speed Starlink Wi-Fi. This investment aims to enhance the airline's premium product and modernise its fleet.
https://www.prnewswire.com/news-releases/virgin-atlantic-selects-boeing-to-enable-high-speed-streaming-quality-wi-fi-across-787-fleet-302585346.html - Virgin Atlantic has partnered with Boeing to implement connectivity modifications across its fleet of Boeing 787 Dreamliners. The upgrades will enhance onboard internet service, bringing high-speed, streaming-quality Wi-Fi to passengers. The services agreement was announced at MRO Europe on October 15, 2025.
https://corporate.virginatlantic.com/gb/en/media/press-releases/virgin-atlantic-becomes-the-first-uk-airline-to-announce-free-fleet-wide-starlink-wi-fi.html - Virgin Atlantic is the first UK airline to announce plans to introduce Starlink in-flight connectivity. The airline will begin installing streaming-quality Wi-Fi on its Boeing 787s, Airbus A350s, and A330neos from Q3 2026, with the installation expected to be completed by the end of 2027. The new service aims to create a 'home away from home' Wi-Fi experience, allowing customers to connect seamlessly from the moment they board the aircraft.
https://travellingforbusiness.co.uk/news/apollo-completes-745m-financing-deal-with-virgin-atlantic/ - Apollo and Virgin Atlantic Airways have announced the completion of a $745 million senior secured financing, backed by Virgin Atlantic’s portfolio of take-off and landing slots at London Heathrow. The transaction will strengthen Virgin Atlantic’s balance sheet and fund continued investment in its premium customer experience, including a full refurbishment of the Boeing 787-9 fleet, delivery of ten new Airbus A330neo aircraft, and rollout of free, streaming-quality Wi-Fi powered by Starlink across the entire fleet.

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 8

Notes: The narrative is recent, with the earliest known publication date being 13th November 2025. The report is based on a press release from Virgin Atlantic, which typically warrants a high freshness score. However, the same information has been republished across multiple outlets, including AviationSource News, FlightGlobal, and Business Traveller, indicating widespread dissemination. This suggests that while the content is fresh, it may lack originality. No significant discrepancies in figures, dates, or quotes were found. The inclusion of updated data, such as the introduction of ten new Airbus A330neo aircraft starting in the third quarter of 2026, justifies a higher freshness score but should still be flagged.

Quotes check

Score: 7

Notes: The direct quotes from Ben Eppley, Samuele Cappelletti, and Shai Weiss appear to be original, with no identical matches found in earlier material. This suggests potentially original or exclusive content. However, the lack of earlier matches also raises the possibility that these quotes are fabricated or taken out of context.

Source reliability

Score: 6

Notes: The narrative originates from AviationSource News, which is not a widely recognised or reputable organisation. This raises concerns about the reliability of the information presented. The press release from Virgin Atlantic provides official confirmation of the financing deal, lending credibility to the claims. However, the absence of coverage from more established news outlets further diminishes the overall reliability score.

Plausability check

Score: 8

Notes: The claims regarding the $745 million financing deal, the refurbishment of the Boeing 787-9 fleet, the introduction of new Airbus A330neo aircraft, and the rollout of complimentary high-speed Wi-Fi powered by Starlink are plausible and align with Virgin Atlantic's strategic goals. The lack of coverage from other reputable outlets and the reliance on a press release for confirmation raise concerns about the authenticity of the information. The tone and language used in the narrative are consistent with corporate communications, suggesting a low likelihood of disinformation.

Overall assessment

Verdict (FAIL, OPEN, PASS): FAIL

Confidence (LOW, MEDIUM, HIGH): MEDIUM

Summary: The narrative presents plausible claims about Virgin Atlantic's financing deal and future plans. However, the reliance on a press release from Virgin Atlantic and the lack of coverage from reputable news outlets raise concerns about the originality and reliability of the information. The absence of earlier matches for the quotes suggests potential fabrication or misattribution. Given these factors, the overall assessment is a 'FAIL' with medium confidence.

Virgin Atlantic
Airline Financing
In-flight Connectivity