Virgin Will Mortgage Slots to Pay Out Delta?

Virgin Atlantic, 49% owned by Delta, plans to mortgage its London LHR slots for $330 million in order to pay out a dividend to owners...presumably Delta. The airline also speaks of the money being used to improve the customer experience in a vague way, so it sounds like more the former than the latter. Virgin would place the slots in a new entity called Virgin Atlantic International Ltd which would probably exist outside the U.K. for ownership reasons. British Authorities are reviewing the deal… (www.patreon.com) More...