Virgin Atlantic, one of the UK’s main airlines that transported holidaymakers to Florida and Walt Disney World, has been in a race against time to secure new investment to save the airline.

After a previous request for government bailout was rejected a privately funded recapitalisation package has been put together.

Sir Richard Branson’s Virgin Group will be injecting £200m with the remainder coming from cash injections, loans and deferrals. The aim is for this investment to keep the airline running over the next 18 months, with the aim to be back in profit by 2022.