Norton Rose Fulbright advises Delta Air Lines on its investment in Virgin Atlantic

Global law firm Norton Rose Fulbright has advised Delta Air Lines, Inc. on its new investment into Virgin Atlantic. 

As a 49% shareholder in Virgin Atlantic, Delta Air Lines has provided its share of the £400 million new shareholder investment.

The investment together with additional creditor support will bolster Virgin Atlantic’s balance sheet, enhance its liquidity and allow it to pay down debt.

This deal will allow Virgin Atlantic to withstand any further down turn in air travel and maximise its commercial operations against renewed industry demand when travel restrictions ease; helping to support the industry, protect jobs, and support wider business markets through delivering travel service for cross-jurisdictional commuting.

Chris Randall, London-based corporate partner who led on the matter, commented:

“We are pleased to have supported Delta Air Lines on their further investment in Virgin Atlantic. The pandemic has been challenging for every industry but none more so than air travel due to the nature of restrictions against coronavirus spread. In such challenging times this investment provides significant support for this iconic UK airline.”

The Norton Rose Fulbright team also comprised banking and finance partner James Dunnett, restructuring partner Mark Craggs and restructuring counsel Gemma Long. 

Norton Rose Fulbright’s aviation practice holds 11 tier 1 rankings across the leading legal directories, Chambers and Legal 500.