Virgin Australia readies for IPO with new leadership and investor meetings

Virgin Australia is advancing its preparation for an initial public offering (IPO), with company executives engaging potential investors as part of its plan to re-enter the stock market. The Australian airline, which is currently privately owned by Bain Capital following its acquisition during the COVID-19 pandemic, intends to provide insight into its improved business model under new leadership.

The Australian Financial Review reports that Virgin Australia's CEO Dave Emerson and CFO Race Strauss met with investors on April 2, assuring them of a leaner business approach. Emerson took over as CEO following the departure of Jayne Hrdlicka, who retired from the position in March. Ryan Cotton, Chairman of Virgin Australia and a Partner at Bain Capital, expressed confidence in Emerson, describing him as the “right leader” to continue implementing the airline’s strategic goals.

Currently, Virgin Australia holds a 35% share of the domestic market as outlined in an Australian Competition and Consumer Commission (ACCC) report. The airline's market share grew by 3.1% in December 2024, allegedly benefiting from Rex’s exit from Major City routes. Bain Capital's acquisition led to Virgin Australia becoming a primarily Boeing 737 operator, whereas previously it operated a variety of aircraft models, including the now-retired Boeing 777-300ER.