Virgin Australia’s new boss has begun meeting with possible investors in the airline ahead of a potential float of the carrier this year.
Dave Emerson met with stakeholders and potential investors in Sydney on Tuesday in his first major move as chief executive of the airline that was rescued by Bain Capital in 2020.
Virgin has tapped brokers Goldman Sachs, UBS and Barrenjoey, who are conducting the investor meetings.
Virgin Australia aircraft in Sydney. The company hopes to be listed on the ASX by June.Credit: Bloomberg
Emerson was named chief executive of Australia’s second-largest airline, taking over from Jayne Hrdlicka last month. Virgin’s long road back to public ownership received a significant boost last month after the federal government approved Qatar Airways taking a minority stake in the airline.
In October, Bain sold 25 per cent of Virgin to the Qatar Airways and under the agreement, Virgin can use Qatar planes and crews to fly from Sydney, Brisbane, and Perth to Doha in June, followed by the opening of a route from Melbourne to Doha in December.
New Virgin Australia CEO Dave Emerson.Credit: Dallas Kilponen
Qatar announced its plans to acquire a stake in Virgin last year after it was denied more flights by the Albanese government in 2023.
Before entering administration, Virgin competed heavily on ticket price with Qantas. Since its emergence from administration, a revitalised Virgin has started to find its feet overtaking Qantas to become Australia’s largest and most reliable airline at the end of last year.
Virgin garnered a domestic market share of 35 per cent as of December, surpassing Qantas’ 34.6 per cent, the competition watchdog said in a report released in February. The airline’s passenger volume rose by 15.8 per cent over the 12 months up to December, against Qantas-owned Jetstar, which notched up 11.2 per cent. Qantas recorded 3.2 per cent, the Australian Competition and Consumer Commission said in the report.
