Virgin Australia is preparing to return to the Australian Stock Exchange (ASX) in June, marking a significant move after a five-year break.
The airline updated investors during a roadshow on Tuesday, initially framed as a business update. During the event, Virgin Australia revealed plans to raise capital in May before officially listing on the ASX in June.
Unlike its previous attempt in 2023, when Virgin sought to relist, the airline has now restructured into a public company, making this move more feasible.
Currently, Virgin Australia is majority-owned by Bain Capital, with Queensland Investment Corporation and Virgin Group holding smaller stakes.
The airline was delisted in 2020 after entering administration amid the Covid-19 crisis. It made another attempt to relist in 2023, but plans were abandoned after an investor roadshow, largely due to unfavorable market conditions. In 2023, only two companies, Guzman y Gomez and DigiCo, succeeded in listing on the ASX.
Since the delisting, Bain Capital has made significant changes to Virgin Australia, including selling a 25% stake to Qatar Airways. The airline also recently appointed Dave Emerson as CEO, following Jayne Hrdlicka’s departure last month.
Neither Bain Capital nor Virgin Australia has commented on the matter.
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