Virgin Atlantic set to raise 160 million pounds in new financing

British airline Virgin Atlantic, which has been hammered by the COVID-19 pandemic like much of the sector, is set to raise 160 million pounds ($222.75 million) in new financing, a spokeswoman for Richard Branson’s airline said in an emailed statement.

“We continue to bolster our balance sheet in anticipation of the lifting of international travel restrictions during the second quarter of 2021”, the spokeswoman said.