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Virgin Atlantic Secures £400 Million Funding From Branson, Delta

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Virgin Atlantic Airways Ltd. owners Richard Branson and Delta Air Lines Inc. agreed to provide a 400 million-pound ($530 million) capital injection into the U.K. carrier to see it through the latest slump in global travel.

Branson’s Virgin Group will cough up 204 million pounds of the funding and Atlanta-based Delta the rest, allowing them to maintain their current holdings of 51% and 49% respectively, Virgin Atlantic said in a statement Monday.