Virgin Atlantic delays IPO plan until early 2022 -source
LONDON, Sept 30 (Reuters) – Virgin Atlantic, the British airline based by billionaire Richard Branson, has delayed its plan to checklist till early 2022 to concentrate on the reopening of the transatlantic market, stated an individual acquainted with the state of affairs.
The USA has stated it would permit in absolutely vaccinated travellers from Britain and dozens of different nations in November, absolutely reopening Virgin Atlantic’s important marketplace for the primary time in 18 months.
Virgin had been contemplating a float this autumn in line with experiences in August, however it would now wait till subsequent yr so it will possibly concentrate on, and profit from, the broader restart of journey between Britain and the U.S., the particular person stated.
Bookings surged 600% the day when the U.S. introduced the rule change, Virgin stated on Sept. 21.
The airline, which is 51% owned by Branson by his Virgin Group whereas U.S. group Delta Air Traces Inc owns the remainder, declined to touch upon its IPO plans.
Most airways have struggled financially through the pandemic, however the lengthy closure of U.S. routes deepened the disaster for long-haul specialist Virgin. It survived because of a 1.5 billion pound rescue between Sept. 2020 and March 2021.
Along with the IPO, Virgin was additionally contemplating different funding choices, the particular person added.
Reporting by Sarah Younger, Enhancing by Paul Sandle
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