Virgin Atlantic completes the $ 230 million sale and lease back of two Boeing 787s

LONDON (Reuters) – British airline Virgin Atlantic said Friday it has completed the sale and lease back of two Boeing 787s as part of a plan to strengthen its balance sheet.

The agreement with Griffin Global Asset Management to raise just over 230 million dollars from the two planes will allow it to repay a loan taken under last year’s rescue agreement.

Reporting by Alistair Smout; editing by Costas Pitas