Virgin Australia shareholders are expected to receive a full return on capital investments that kept the airline alive through the pandemic as the airline readies to hit the public market for a value of around AUD$3 billion.
US investment firm, Bain Capital hold the highest stake (93 per cent) in the Australian airline, and are set to recoup most of its $700 million plus investment.
Virgin Group and Queensland Investment Corp hold the remaining 5 and 2 per cent respectively, and are also expected to see a full return.
Virgin Australia chairman, Ryan Cotton, said an IPO worth $3 billion (or more) is, “well advanced”, in an email to staff.
“While there is still no date set and our ultimate window of opportunity will depend on market conditions, we are hopeful this process will progress over the coming quarters, and we can return Virgin Australia to the ASX when the timing is right,” Cotton, said.
“This is largely thanks to the transformational investments made while still early in the pandemic, the strategic choices we have made together, the commitment our teams have shown, and the tremendous efforts our people have made across our special business.”
