(Reuters) -Bain Capital-owned Virgin Australia is set to return to the Australian stock exchange after delisting in 2020, the Australian Financial Review (AFR) reported late on Sunday.
Australia’s second-largest airline’s executives are set to meet prospective investors on Tuesday to pitch the firm’s surge in profitability, the local media outlet added.
Virgin Australia was bought out by Bain Capital after falling into voluntary administration at the start of the COVID-19 pandemic in 2020, owing to rising losses. The private equity firm has, in recent years, explored the idea of re-listing the airline after a return to profitability in fiscal 2023 after 11 years.
On Tuesday, Virgin chief executive Dave Emerson, who succeeded Jayne Hrdlicka in the airline’s top job this month, will begin a non-deal roadshow to discuss the company’s prospects with fund managers.
People briefed on the preparations said Emerson would be likely to update investors on Virgin’s strategic reset and point out that it has become a less complex airline, AFR added, without elaborating.
Virgin Australia did not respond immediately to a Reuters request for comment.
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Chris Reese and Aurora Ellis)
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