V-Flyer

VS has used its Heathrow slots (not sure how many of them) as security to raise $745 million in new financing to fund future capital expenditure.

I recall BA tried to do something similar many years ago but didn't ultimately go ahead with it.

https://corporate.virginatlantic.com/gb ... ution.html

Apollo (NYSE: APO) and Virgin Atlantic Airways today announced that Apollo-managed funds and affiliates have completed a $745 million senior secured financing of Virgin Atlantic’s portfolio of take-off and landing slots at London Heathrow, one of the world’s busiest airports.

The proceeds from the financing will further strengthen Virgin Atlantic’s balance sheet and fund the airline’s continued investment in its award-winning premium customer experience.

Financial Times reports it's for 27 of it's 31 pairs of Heathrow landing slots.

I don't find any hint of speculation earlier this month that half of funds raised were going to shareholders (Virgin & Delta) so maybe that's not happening and it's all for investment (but reality being that (Covid) loans outstanding to Virgin & Delta due for repayment around the end of 2026 can now be made without stalling future investment / still investing and the funds originally rumoured to be going to shareholders were effectively that loan repayments that would become due were going to be paid on time rather than dividends being paid).