Private Equity

Virgin Atlantic in talks with Deutsche Bank and other private equity firms to raise funds

The group said this week it plans to sell as much as 12% of Virgin Galactic Holdings —the space-tourism venture that made its initial public offering in New York—to shore up its travel and tourism businesses

Virgin Atlantic, the UK-based transatlantic airline, is talking to Deutsche Bank, among other institutions, about raising some £750m to help it weather the drop in demand brought on by the coronavirus pandemic, according to a person familiar with the matter.

The German bank is among a group of around a dozen institutions, mainly private equity firms, that Virgin Atlantic is talking to this week and next, this person said. Deutsche Bank declined to comment.

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