Wednesday, May 25, 2022
HomeUncategorizedVirgin Atlantic in Talks for $540 Million Funding, Sky News Says

Virgin Atlantic in Talks for $540 Million Funding, Sky News Says

Virgin Atlantic Airways Ltd. is in discussions with its shareholders about a 400 million-pound ($540 million) capital injection, Sky News reported, citing unidentified people familiar with the matter.

The amount of the potential capital increase is yet to be finalized, and the carrier’s founder and majority investor Richard Branson is expected to contribute as the possibility of an initial public offering becomes less likely, according to the report. Sky News said that the decision would be announced by year-end. 

A Virgin Atlantic spokesman told the news outlet that the company doesn’t comment on speculation.

The carrier, founded in 1984, has never sold stock to the public. Virgin Group owns a 51% stake with the rest held by Delta Air Lines Inc.

This story has been published from a wire agency feed without modifications to the text.

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