Virgin Atlantic Sells Jets to Pay Off Rescuer Davidson Kempner
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Virgin Atlantic Airways Ltd. sold two Boeing Co. 787 jetliners to fund the repayment of a loan from hedge fund Davidson Kempner Capital Management that formed the basis of a hard-won rescue last year.
The planes were bought by Griffin Global Asset Management and Bain Capital Credit, Virgin Atlantic said in a statement Friday. The sale and leaseback deal, which allows the airline to go on operating the aircraft, raised $230 million.