This weekend Virgin Australia’s CEO Jayne Hrdlicka said the company was in “no rush” to begin its initial public offering (IPO) despite the airline announcing its intention at the start of the year.
The Australia and Pacific region airline is still part of the Virgin branding group but was sold in 2020 to Massachusetts-based private equity corporation Bain Capital.
Go deeper with GlobalData
Like much of the international aviation sector, Virgin Australia has reported blossoming profits and revenues in 2023 as Covid-19 abated and passengers returned.
But Hrdlicka told the Australian Financial Review that economic headwinds still dictated the direction of travel: “We’re in a very high inflationary environment and we’ve been through a really difficult period.
“The dynamic at play in aviation is [and] has always been the same, which is you have ups and downs and the downs are pretty punishing and the ups are always moderated and fleeting”
For now, the company remains focused on day-to-day operations, including the delivery of 33 new fuel-efficient Boeing planes.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBut for the airline’s return to Sydney’s Australian Securities Exchange (ASX), there is no set date. The company was formerly traded on the ASX but requested its removal in November 2020.
“The IPO is happening in the background, the planning, and as we’ve always said there’s no pressure on timing when we’re ready,” Hrdlicka reiterated.
