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.
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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.
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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.
