Virgin CEO is in no rush to launch the airline’s IPO

20110602 Virgin Australia YR801 3664 (VOZ) 737-800 Take off and Taxi
Edited by Travel Weekly


    Virgin Australia’s CEO Jayne Hrdlicka said there is “no rush” when it comes to launching the airline’s initial public offering (IPO) as it reported an upswing in profits.

    Speaking over the weekend, Hrdlicka said the airline needs to remain focused on delivering said profits and “rationally rebuilding the industry for the long term”.

    “We’re in a very high inflationary environment and we’ve been through a really difficult period,” she told The Australian Financial Review.

    The airline has reported one year of profits since being acquired by its parent company Bain Capital in 2020. Hrdlicka said that she wouldn’t call these profits “super” but said it was promising for the airline as it rebuilds for the long term.

    Jayne Hrdlicka and Virgin Australia crew at the airline’s family day over the weekend (Virgin Australia)

    “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,” she said.

    “And the ups are always moderated and fleeting, so I don’t really buy into the notion (of super profits).”

    As the profits have rolled in, the question of when Virgin’s IPO will launch has arisen, leading Hrdlicka to clarify the airline’s stance.

    “It’s great to see the market’s open, but the timing needs to be right for us and we’ll work our way through what that looks like,” Hrdlicka said.

    We’re very, very focused operationally and on delivering new aircraft into the fleet and delivering our schedule. Of course, 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.”

    Separately, Virgin recently welcomed the arrival of the airline’s first fuel-efficient Boeing 737-8 aircraft over the weekend.

    The aircraft is one of 33 fuel-efficient Boeing 737-8 and 737-10 aircraft Virgin Australia has on order, with more fuel-efficient aircraft set to be delivered in the coming months.

    With the arrival of the Boeing 737-8, Virgin Australia has also revealed its new Business Class and Economy cabin interior as well as confirming plans to refresh the interior cabins on the airline’s remaining Boeing fleet, as part of an investment of approximately $110 million to improve the flying experience for customers. You can find more details on the new aircraft and cabins here.

    Email the Travel Weekly team at traveldesk@travelweekly.com.au

    virgin australia

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