Branson’s Virgin Atlantic strategies London listing -Sky Information

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A British airways aeroplane tailfin and a Virgin Atlantic areoplane are found with the management tower at Heathrow airport., London, Britain, May well 5, 2020. REUTERS/Toby Melville Aug 7 (Reuters) – Britain-dependent airline Virgin Atlantic [RIC:RIC:VA.UL] is organizing to checklist on the London Inventory Trade, Sky News documented on Saturday. […]

A British airways aeroplane tailfin and a Virgin Atlantic areoplane are found with the management tower at Heathrow airport., London, Britain, May well 5, 2020. REUTERS/Toby Melville

Aug 7 (Reuters) – Britain-dependent airline Virgin Atlantic [RIC:RIC:VA.UL] is organizing to checklist on the London Inventory Trade, Sky News documented on Saturday.

Citing “Town sources”, it said the airline launched by Richard Branson has acquired good responses from institutional buyers about aninitial community featuring, with an autumn announcement most likely.

It said the shift would practically definitely see Branson relinquish in general manage of the organization.

It included that Virgin Atlantic has employed Citi and Barclays to oversee the listing.

The airline is 51% owned by Branson’s Virgin Group and 49% by the U.S.’s Delta Air Lines Inc (DAL.N).

“We will not be commenting on speculation,” said a Virgin Atlantic spokesperson.

Like most airways, the agency has been hammered by the COVID-19 pandemic.

In April it reported a 659 million pound ($914 million) pretax decline for 2020 after passenger figures dropped 80%.

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Virgin Atlantic minimize costs final year, shedding 41% of its workforce and retiring some more mature aircraft early.

($1 = .7209 pounds)

Reporting by Juby Babu in Bengaluru and James Davey in London Editing by Kirsten Donovan and Christina Fincher

Our Standards: The Thomson Reuters Trust Principles.

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