Continued from page 56 Then it and the Department
for Transport devised the sticking-plaster solution of the so-called Flight-Plus Atol to cover dynamic packages. Subsequently, the European Commission stepped in with a new definition of a package in its Package Travel Directive of 2016 and the UK incorporated this into the Package Travel Regulations of 2018. Travel Republic failed to adjust
to the new regulatory regime in the way loveholidays and On the Beach did. In the meantime, Emirates grew and grew its sales through agents. Travel Republic, founded on selling short-haul beach holidays, must have seemed increasingly less relevant. The OTA still held an Atol for 555,000 in 2019. But post- pandemic this was cut to 368,000, then to 103,000 this April and just 46,000 this October. Meanwhile, regional carrier
Jet2. com had founded tour operator Jet2holidays in 2007. By 2015, it was carrying half the customers Travel Republic had in 2011. But 14 years on from dnata’s acquisition of Travel Republic, Jet2holidays is by some margin the biggest Atol holder and overall sales of package holidays – including through trade intermediaries – are at record levels. The Emirates Group
reported record half-year results to September for the fourth consecutive year, with dnata revenue surpassing $3 billion for the first time but growth in its travel division lagging the group’s. Emirates increased services in the UK in October, adding six flights a week at Heathrow, and will operate 146 UK flights a week from February. Clearly, Travel Republic and Netflights’ contribution to filling these has been deemed insufficient.
Virgin seals $745m loan to upgrade fleet facilities
Samantha Mayling
Virgin Atlantic will invest in its fleet following the completion of a $745 million loan agreement based on its take-off and landing slots at Heathrow. The airline said the senior
secured financing deal with asset management firm Apollo would “further strengthen Virgin Atlantic’s balance sheet and fund the airline’s continued investment in its premium customer experience”. This will include the complete
refurbishment of its Boeing 787-9 fleet, introducing upgraded interiors and expanded Upper Class and Premium cabins from 2028. From the third quarter of 2026,
10 new Airbus A330neo aircraft will also join the fleet, featuring expanded premium cabins and six Retreat Suites. The financing will also
support the introduction of free, streaming-quality Wi-Fi across
Shai Weiss
the fleet, powered by Starlink. Senior secured loans offer greater
security, with lenders prioritised for repayments and having their investment backed by assets, in this cases Virgin’s Heathrow slots. Shai Weiss, chief executive
of Virgin Atlantic, said: “Today’s agreement marks an important milestone as we continue to strengthen our balance sheet and deliver on our vision to become the most-loved travel company. “We’re delighted to partner with Apollo on this transaction, and for
their confidence in Virgin Atlantic, as we invest in delivering the best experience in the skies for our guests.” Ben Eppley, Apollo partner, said:
“We are pleased to partner with Virgin Atlantic on this transaction, which demonstrates our ability to provide bespoke, scaled financing solutions to leading businesses.” Samuele Cappelletti, Apollo
partner, added: “This creative, asset- backed structure unlocks important capital investment for Virgin Atlantic, a strong, established brand that we believe is well-positioned for continued success with its
differentiated offering in aviation.” Q Separately, Virgin confirmed it had paused services to Jamaica until late November in the wake of the devastation caused by Hurricane Melissa. The airline helped 1,000 holidaymakers return to the UK from Montego Bay on four initial relief flights and later deployed two further repatriation services.
US Thanksgiving ‘chaos’ averted as shutdown ends
The US government shutdown ended on November 12 just as it began to seriously impact air travel and threatened chaos over next week’s Thanksgiving holiday. Transportation secretary Sean
Duffy had warned a day earlier of “real disruption” to flights if the government did not reopen. A handful of Democratic
54 20 NOVEMBER 2025
senators voted with Republicans to pass a government-funding bill and end the six-week shutdown in a move welcomed by the US Travel Association, which noted it had caused “43 days of chaos [and] over $6 billion in lost travel spending”. However, the funding deal only
extends to the end of January. US Travel president and chief
executive Geoff Freeman branded the shutdown “irresponsible” and “foolish” and said air traffic controllers and Transportation Security Administration (TSA) agents should in future “be paid without interruption”.
Airlines scrambled to restore
schedules ahead of Thanksgiving on November 27 after the Federal Aviation Administration had begun a phased reduction of flights at 40 of the country’s busiest airports.
travelweekly.co.uk
JFK Airport, New York
PICTURE: Virgin Atlantic
PICTURE: Shutterstock/Nate Hovee
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