Virgin Atlantic sells two Boeing 787-9 Dreamliners to raise up to $93 million

11/12/2020

Virgin Atlantic has sold two of its 787-9 Dreamliners to Griffin Global Asset Management, which is backed by Bain Capital.

Virgin Atlantic is expected to generate up to 70 million pounds ($92.8 million) in cash from the sale-and-leaseback of these two Boeing 787-9s.

According to data from Planespotters.net, the following four Boeing 787s were owned by Virgin Atlantic. However, the airline has now sold two of the following Dreamliner:

  • G-VDIA (Lucy in the Sky)
  • G-VMAP (West End Girl)
  • G-VNYL (Penny Lane)
  • G-VOWS (Maid Maria)

Regarding this, a Virgin Atlantic spokesperson told Sky News:

“This financing opportunity, regarding two of our 787s, allows us to pay down debt and improve our cash position going into 2021. We are confident that Virgin Atlantic will emerge from the COVID-19 crisis a sustainably profitable airline, with a healthy balance sheet.”

Airlive