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Virgin Voyages secures $550m investment to support growth plans

Economy
Will Payne
17 August 2022

Virgin Voyages has secured $550 million in new capital to support its growth plans as the cruise industry recovers from the Covid-19 pandemic.

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The new funding – which was led by BlackRock and includes new external financing and additional capital from existing investors including Bain Capital Private Equity and Virgin Group – will enable the line to continue its growth strategy and further strengthen its financial position as demand "continues to gain momentum".

Tom McAlpin, chief executive of Virgin Voyages, said the company has created an "incredible project" which investors and consumers "truly believe in".
 
"This additional capital comes at a time when we’re looking forward to exponential growth that will, in turn, help us achieve what we set out to accomplish," he added.