Chanticleer
Virgin soars back to profit, but Qantas is key to IPO takeoff
Virgin believes its first profit in 11 years its proof its turnaround is working. But, ironically, its return to the ASX could hinge on Qantas regaining altitude.
Virgin Australia’s return to profitability for the first time in 11 years is an important milestone in chief executive Jayne Hrdlicka’s quest to bring the airline back to the ASX.
But with the economy softening, fuel costs rising and Qantas trading on a rock-bottom earnings multiple, the IPO plans of Virgin’s private equity owner, Bain Capital, could remain stuck in the hangar – at least for this year, and potentially a bit longer.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Transport
Fetching latest articles