Virgin Atlantic has secured a $745 million loan from American asset management firm Apollo Global Management, using its takeoff and landing slots at 
London Heathrow Airport as collateral. The airline plans to use the funds to strengthen its balance sheet, notably using about $180 million of the funds to pay down a similar slot-secured loan it took out in 2015.
Virgin Atlantic says it plans to use the remaining funds for major upgrades to its customer experience. This includes a “complete refurbishment” of its 
Boeing 787 fleet, as well as expanded premium seating on its incoming Airbus A330neos. It will also use the funds to finance the installation of free onboard WiFi across its fleet, scheduled for completion by 2027.
Securing Financing With LHR Slots
In 2015, Virgin Atlantic became the first European airline to use its Heathrow slots to raise finance. About $180 million of the proceeds of this latest deal will go towards repaying that last deal. The practice is not uncommon, with 
Delta Air Lines and 
American Airlines both having pledged landing slots in the past in order to secure financing.
The airline only recently returned to profit for the first time since the pandemic, reporting a pre-tax profit of £19.7 million in 2024. This was driven by record revenues of £3.3 billion, spurred on by strong increases in revenue from its premium cabins. In response, Virgin Atlantic plans to increase the number of premium seats across its fleet by 30% by 2030, further capitalizing on this high-yield segment. The bulk of the funds from the transaction with Apollo are therefore targeted for retrofits and upgrades to new aircraft deliveries.
Virgin Atlantic CEO Shai Weiss said the agreement marks an important milestone for the airline as it looks to deliver on its vision to become the most loved travel company. She said:
“We’re investing in delivering the best experience in the skies for our guests. From flying the youngest fleet across the Atlantic as the first UK airline to have free, streaming quality Wi-Fi, to introducing larger premium cabins and a full retrofit of our 787 fleet. The best is yet to come.”
Changes To The Virgin Atlantic Fleet
Virgin Atlantic has four aircraft types in its fleet, although its A330-300s are on the way out and gradually being replaced as the newer A300-900s are delivered. That will leave its Boeing 787-9s as the oldest aircraft in the fleet, and with them approaching a decade in service, the airline plans a full retrofit with a significant shift towards premium seating, aligning the aircraft’s cabins with the newer designs found on its A330neos and A350s.
|
The Virgin Atlantic Fleet: November 2025 |
|||
|
Aircraft Type |
Operational |
Orders |
Avg Age (Years) |
|
Airbus A330-300 |
6 |
– |
14.0 |
|
Airbus A330-900 |
8 |
11 |
2.1 |
|
Airbus A350-1000 |
12 |
– |
4.9 |
|
Boeing 787-9 |
17 |
– |
9.7 |
The project will begin in 2028 and is expected to be completed by 2030. Key changes include:
- Increased Premium Seating: The overall seat count will reduce from 258 to 227, but the number of premium seats will increase dramatically. Business class will increase from 31 to 44 seats, introducing a new 1-2-1 layout for more privacy. Premium Economy will increase from 35 to 56 seats, while Economy will shrink from 192 seats to 127 seats to make room for the expanded premium cabins.
- Introduction of Retreat Suites: For the first time, the 787 fleet will feature the “Retreat Suite” at the front of the Upper Class cabin. There will be eight of these larger suites per aircraft, offering a 6ft 7in lie-flat bed and an ottoman that allows two people to dine or socialize together.
- Removal of the Bar: The iconic onboard bar, a signature feature of Virgin Atlantic for decades, will be removed entirely from the 787s to accommodate the extra seats and new cabin layouts.
Similarly, the next batch of A330-900s that are scheduled for delivery from Q3 2026 will arrive with a significantly reconfigured cabin compared to the existing A330-900s, with an emphasis on premium seating. Business Class will increase from 32 seats to 48 seats, and Premium Economy will increase from 46 seats to 56 seats. The number of Retreat Suites will also increase from two to six per aircraft.
Free Starlink WiFi On The Way
Part of the financing will be used by Virgin Atlantic to introduce free, high-speed WiFi across its entire fleet. The airline is partnering with SpaceX’s Starlink satellite technology to provide this service, which it promises will allow passengers to use the internet as they would at home, supporting streaming, gaming, and real-time connectivity on multiple devices. This positions Virgin Atlantic as the first UK-based airline to offer complimentary, streaming-quality WiFi to all passengers, regardless of cabin class.
The rollout of the Starlink system will begin with installation on its Airbus A350, A330neo, and Boeing 787 fleets in the third quarter of 2026. The airline has a target for the entire fleet to be equipped and fully operational with the new connectivity by the end of 2027. To access the free WiFi, passengers will need to create or log in to a Virgin Atlantic Flying Club loyalty account, a strategy aimed at boosting the program membership.
