Vedder Price

Vedder Price Advises Virgin Atlantic in Structured Financing Transaction

Vedder Price is pleased to announce that it acted as legal counsel to Virgin Atlantic in connection with the structured financing of its final Airbus A350-1000 aircraft which delivered in May 2024.

The transaction was structured as a French optimized lease funded with a senior loan led by three lenders, Natixis, MUFG and La Banque Postale. The senior loan was backed by an insurance product provided by Itasca MGA as insurer agent. The transaction also featured a junior loan to Virgin Atlantic arranged by Novus Aviation Capital and provided by Tamweel Aviation Finance.

“We were extremely pleased to advise and collaborate with Virgin Atlantic on another financing for a core asset in their fleet,” said Neil Poland, Vedder Price Global Transportation Finance Partner. “This was a complex and innovative financing which establishes new commercial relationships for the airline with important financing partners in the aviation market.” 

Virgin Atlantic is the second largest full-service carrier in the United Kingdom, operating a fleet of 43 widebody aircraft. “The Airbus A350 plays a significant role in our fleet transformation, enabling us to fly one of the youngest, cleanest fleets which is now fully financed through to Q4’ 25,” said Ansar Hussain, VP of Corporate Finance at Virgin Atlantic.

Neil Poland and Josh Alexander led the transaction with other members of the Vedder Price team, including Jack Goold.