Media: Virgin Atlantic plans to list on London stock market

The British airline Virgin Atlantic is planning to list on the London Stock Exchange in the coming months. — Reuters pic
The British airline Virgin Atlantic is planning to list on the London Stock Exchange in the coming months. — Reuters pic

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LONDON, Aug 7 — The British airline Virgin Atlantic is planning to list on the London Stock Exchange in the coming months, UK media reported on Saturday.

According to broadcaster Sky News, which cited sources in the City of London, the carrier has been consulting with investors with a likely autumn announcement for the listing.

It added the public offering — Virgin Atlantic’s first since it launched in 1984 — was being overseen by bankers at Citigroup and Barclays.

A spokesperson for Virgin Atlantic told AFP the company “won’t be commenting on speculation”.

The airline, like much of the travel sector, has been hit hard by the coronavirus pandemic and posted a pre-tax loss of £659 million (RM3.9 billion) in 2020, as passenger numbers fell by 80 per cent.

In March the airline secured £160 million in fresh loans and deferrals.

The support package followed the raising of $230 million in January from the sale of two Boeing 787 planes and recapitalisation worth £1.2 billion in 2020.

Sky reported the floatation will likely see parent Richard Branson-owned Virgin Group’s share of capital fall below its 51 per cent control. US Delta Air Lines holds the remaining 49 per cent of shares. — AFP

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