Money
Virgin Atlantic set for London IPO debut
Britain-based airline Virgin Atlantic is planning to list on the London Stock Exchange.
According to reports, the airline has received positive responses from institutional investors about an initial public offering, with an autumn announcement likely.
The airline is 51% owned by Richard Branson’s Virgin Group and 49% by Delta Air Lines.
Branson would also likely give up control of the company under an IPO unless he elects to subscribe to new equity in the airline.
Why the airline will list as public:
Virgin Atlantic does not have an urgent need for funds, since it has adequate financing to get through the next few months, insiders said. However, Branson and other executives are reportedly open to the IPO idea to provide future funding opportunities as the airline industry recovers from the COVID-19 pandemic and beyond.