Virgin Australia’s stock has soared after the company’s long-awaited listing on the ASX. Five years in the making, it’s hoped this float will revive the lacklustre market for new public offerings.
ABC chief business correspondent Ian Verrender says in order to keep shareholders happy, Virgin will need to be competitive with Qantas, and that could mean cheaper airfares.
Virgin chief executive Dave Emerson told Ian Verrender he was happy with the share price, and that he didn’t have an expectation on how it was going to trade.
Mr Verrender, however says it’s an important point to make that money raised is flowing through to Bain Capital, a US private equity giant, which bailed out Virgin when it went into administration in 2020.
Qatar airways became a major shareholder in Virgin Australia this year.
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