Planes and carriers. Virgin Atlantic's IPO is approaching
It was already close almost a year ago
Richard Branson continues to stay on the crest of the wave. After the first space tourist trip in orbit with his Virgin Galactic (read also the article published by AVIONEWS), in the last few hours there is much talk of the British entrepreneur due to a probable financial debut. The airline Virgin Atlantic would in fact be very close to the share price on the stock exchange, an appointment that has become imminent after almost four decades from the founding of the English tycoon's company. The intention is to place the securities on the London Stock Exchange, the London Stock Exchange to be clear, a move that is not accidental. In fact, the British airline is realizing that the resumption of air connections, especially those relating to long haul, is close, therefore it is necessary to be ready and in good economic conditions. The initial public offering would be led by two lenders, namely Citi and Barclays, according to national newspapers. The listing is not, however, a bolt from the blue, given that last Autumn there was insistence on this possibility, especially after the collection of 1.2 billion pounds. Since that time, things have changed a lot for Virgin: for example, the staff has been reduced considerably, falling far below 6,000 units, while annual costs have been cut by over 300 million pounds. The coronavirus pandemic has affected the entire air transport, without sparing this carrier that has made its fortune thanks above all to the flights that have "united" Great Britain and the United States, much less frequent for some time now.
AVIONEWS - World Aeronautical Press Agency