The proceeds of the transaction will be used to fund the airline’s long-term investment programme, which includes the purchase of new aircraft.
The mortgaging of its slots at the UK’s busiest airport sheds light on the reason behind the creation of new subsidiary Virgin Atlantic International Ltd.
The new airline will fly from London Gatwick to Caribbean destinations including Antigua, Barbados, Grenada, Saint Lucia and Tobago using two dedicated A330-300 aircraft serviced by Virgin Atlantic’s existing team of pilots and cabin crew. Its customer proposition and experience will be identical to its parent company.
