RE: Help on Virgin fleet

I think that a few of the 747-200s were sold to Kabo Air of Nigeria.

As for the TF-ATW 747-200 which was sold to Air Atlanta:

I might just add an accountant’s perspective here:

Assets which are sold and leased back are always retained on the Balance Sheet, as if no transaction took place. This is because of the “substance over form” concept. Techinally, this aircraft is still an asset of Virgin, irrespective of precise legal title. This is because it is seen as a loan from Atlanta, which just happens to have been secured on a 747. If the situation remains the same at Virgin’s year end, this aircraft will be included in their accounts.