Terms have been finalised with Griffin Global Asset Management and Bain Capital Credit, the new owner of Virgin Australia, Virgin Atlantic confirmed on Friday morning (15 January).
According to Reuters, the deal is worth around $230 million (£170 million), and will allow Virgin to repay cash borrowed to secure a $1.2 billion (£880 million) rescue deal last September.
"This latest financing opportunity allows the airline to pay down debt and improve its cash position as it enters 2021, to further strengthen the airline’s resilience until passenger flying resumes at scale," said the airline.
