London Daily

Focus on the big picture.
Sunday, Aug 30, 2026

Richard Branson and Delta inject £400m to bolster Virgin Atlantic's finances

Richard Branson and Delta inject £400m to bolster Virgin Atlantic's finances

The investment is the latest for the carrier which was saved by a £1.2bn rescue package last year and reported an annual loss of £858m as the pandemic took its toll.

Virgin Atlantic has received a £400m funding injection from Sir Richard Branson and co-owner Delta Airlines to bolster its pandemic-battered finances.

Confirmation of the investment, plans for which were first reported last month by Sky News, comes as carriers including Virgin seek government support amid tighter travel restrictions designed to tackle the Omicron variant.

Sir Richard's Virgin Group, which owns 51% of Virgin Atlantic, is putting in £204m while Delta, with its 49% stake, will contribute £196m.

The airline said the injection "positions Virgin Atlantic to emerge from the COVID-19 pandemic in a strong financial position and with a bolstered balance sheet, ready to capitalise on market opportunities as demand returns".

Virgin has axed nearly half of its workforce as it slashed costs to survive the pandemic, during which it plunged to an £858m annual loss.

The airline has been helped by the recent resumption of flights between the UK and US - the most profitable part of its business - but the emergence of the Omicron variant and measures such as pre-departure testing for all UK arrivals, designed to halt its spread, threaten to stall the revival.

Sir Richard's latest investment is the latest chunk of his fortune to be contributed to the battered business.

Last month, the Virgin Group tycoon sold $300m of stock in New York-listed Virgin Galactic - bringing the total he has raised from selling shares in the space tourism business during the pandemic to more than $1bn.

Virgin Atlantic has sought several rounds of funding since the start of the pandemic, the most notable of which was a £1.2bn solvent rescue package in September last year which included £200m from Sir Richard, a loan from the American hedge fund Davidson Kempner Capital Management, and substantial contributions from creditors.

The airline is 51% owned by Sir Richard Branson's Virgin Group


It has also landed hundreds of millions of pounds more - in multiple instalments - from the sale of several Dreamliner aircraft and a further loan from Virgin Group.

Announcing the latest investment, Virgin Atlantic chief executive Shai Weiss said: "We have proven that we have what it takes to emerge a stronger airline.

"Throughout, our shareholders Virgin Group and Delta Air Lines, and our creditors, have been a source of unwavering support."

Newsletter

Related Articles

0:00
0:00
Close
UK Officials Highlight 80 Years of Diplomatic Relations With Philippines
Heavy Rain Disrupts Parts of England After Weeks of Extreme Summer Heat
More Than 200 Extra Police Officers Deployed Across Cleveland After Violent Incidents
Burnham Meets Northern Ireland Leaders for Talks on Economy and Youth Employment
Burnham to Abstain From UK Assisted Dying Vote
NHS Leaders Warn of Severe Financial and Staffing Pressures Ahead of Autumn
UK Treasury Prepares October Budget as Defense and Public Spending Pressures Mount
Scottish Government Publishes Draft Bill for Second Independence Referendum
Royal Navy Tracks Russian Warships and Sanctioned Vessels in 72-Hour Operation
UK and Ukraine Agree AI-Focused Defense Technology Partnership
US Reportedly Weighs Falkland Islands Policy Shift to Pressure UK Over NATO Spending
UK Government Mobilizes Emergency Aid as British Nationals Remain Missing After Nepal Floods
UK Hospitality Industry Reports Stronger Summer Trading but Seeks Tax Relief
Reform UK Proposes £30 Tax Credit for Long HMRC Helpline Waits
Labour Debates Caps on Political Donations Ahead of Future Elections
England Accelerates Housing and Planning Reforms Amid Affordability Crisis
NHS Expands Walk-In Community Health Centers to 40 Locations
UK Regulators Expect Meta to Apply Stronger Child Safety Standards Globally
UK Groups Demand Faster Transport Decarbonization After Extreme Summer Weather
UK Launches 10,000 Work Experience Placements as Youth Unemployment Concerns Rise
UK Government Faces Difficult Autumn Budget Choices Over Defense, Spending and Taxes
UK Government Rejects Calls to Slow AI Data Center Expansion
IMF Raises UK Growth Forecast to 1% Despite Global Supply Chain Risks
UK Unsecured Loan Defaults Reach Highest Level Since 2009
UK Energy Price Cap to Rise 4% to Three-Year High of £1,723
More Than 30 Britons Reported Missing After Deadly Nepal-Tibet Floods
Royal Navy Tracks Russian Warships and Sanctioned Vessels in 72-Hour Operation
Police Intensify Investigation Into Organised Crime-Linked Violence in Middlesbrough
UK Small Businesses Face Continued Revenue and Tax Pressures, Federation Says
M&G Real Estate Buys West Sussex Affordable Housing Portfolio for £29 Million
Royal Navy Warship HMS Tamar Visits Cambodia for Regional Security Engagement
UK Government Brings Forward Benefit Payments Ahead of August Bank Holiday
Four Men Plead Guilty to Arson Attack on Jewish Community Ambulances in North London
Ofgem Raises Great Britain’s Household Energy Price Cap by Four Percent From October
UK Government Rejects Green Party Call for Artificial Intelligence Datacentre Moratorium
Millions of UK Benefit Recipients Receive Payments Early Ahead of August Bank Holiday
UK Prime Minister Meets Northern Ireland Leaders in Belfast Over Budget Crisis
Crypto Tax Gains Reach One Point Three Eight Billion Pounds Among UK Investors, HMRC Data Shows
UK Corporate Confidence Rises to Highest Level Since March, Lloyds Survey Shows
Mike Ashley Attacks UK Government Business Rates and Cost-of-Living Policies
Scottish Universities Face Two Hundred Million Pound Annual Funding Gap, Report Warns
Entertainment Figures Urge UK Government to Protect People From AI Voice Cloning
Manchester Airports Group Confirms Customer Data Breached in Cyberattack
Seven Charged Over Vandalism at Donald Trump’s Turnberry Golf Resort in Scotland
Nearly 23,000 UK Households Expected to Move Home on Busiest Day of 2026
UK Benefit Payments to Arrive Early Ahead of August Bank Holiday
Reform UK Pledges to Replace GDPR and Cut Tax Administration Red Tape
Andy Burnham Launches Work Experience Plan for One Million Young People Outside Education or Work
Andy Burnham Faces Labour Backlash After Dropping Support for Political Donations Cap
Andy Burnham Announces UK-Wide Summit With Leaders of Scotland, Wales and Northern Ireland
×