Virgin Atlantic seeks to raise cash from Heathrow runway slots
Virgin Atlantic has been given an air operator certificate for a new corporate entity called Virgin Atlantic International (VAL), sparking rumours the airline is looking to raise money against its slots on Heathrow's runways.
The company said it did not comment on “market speculation”.
Virgin, owned by Sir Richard Branson and Delta Air Lines, will reportedly announce the plan within the next few weeks, using VAL as a holder of the runways if Virgin Atlantic goes under.
Airlines have long struggled with their inability to raise money on runway slots.
In 2012 British Airways had to abandon a scheme to raise £450m against its Heathrow slots due to the plan’s its complexity.