Virgin Australia owner Bain Capital says it will shortly seek advice on an initial public offering for the relaunched airline.
Virgin Australia owner Bain Capital says it will shortly seek advice on an initial public offering for the relaunched airline, which it bought out of administration for $3.5 billion in 2020.
Bain partner Mike Murphy said chief executive Jayne Hrdlicka and her team were “doing fantastic work and have delivered an impressive transformation since the very challenging phase of COVID-19 and administration”.Virgin was a publicly listed company for 16 years before its near collapse, but consistently struggled on the market and, when COVID-19 hit, was unable to secure funding from its five major airline shareholders.
“Bain Capital has made a long-term commitment to support Virgin Australia’s growth and sustainability. It is Bain Capital’s current intention to retain a significant shareholding in a future IPO of Virgin Australia,” Mr Murphy said. “Bain Capital will ensure these preliminary deliberations are not a distraction for Virgin Australia management, who can remain 100 per cent focused on their roles,” he said.
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