Virgin Voyages has secured $550 million in new capital to support its growth plans

Virgin Voyages has secured $550 million in new capital to support its growth plans

The new funding – which was led by BlackRock and includes new external financing and additional capital from existing investors including Bain Capital Private Equity and Virgin Group – will enable the line to continue its growth strategy and further strengthen its financial position as demand "continues to gain momentum".

 

Tom McAlpin, chief executive of Virgin Voyages, said the company has created an "incredible project" that investors and consumers "truly believe in".
 

"This additional capital comes at a time when we’re looking forward to exponential growth that will, in turn, help us achieve what we set out to accomplish," he added.

The investment comes as Virgin reports "exponential growth in bookings" in the last six months, with this year tipped to see a strong return across the industry as cruising heads toward pre-pandemic levels.

 

According to research carried out by the line, 96% of consumers are keen to cruise this year following two years of restrictions.