Virgin Australia, the country’s second-largest airline group, has confirmed its intention to proceed with an Initial Public Offering (IPO), and will list on the Australian Securities Exchange (ASX) with trading expected to begin on 24 June.
Under the ticker code VGN, the IPO will offer 236.2 million fully paid ordinary shares at a price of $2.90 per share, raising $685 million. Participating investors are expected to hold 30.2% of the shares upon completion. The remaining shares will continue to be held by existing investors, among them Bain Capital, Qatar Airways Group, Virgin Group, and the Queensland Investment Corporation.
As part of its transition to public ownership, Virgin Australia has announced several changes to its Board, among them that Virgin Australia CEO Dave Emerson would join the Board as Managing Director. Peter Warne, former Chair of Macquarie Group, was appointed Independent, Non-Executive Chairman in April 2025.
“After making significant progress in Virgin Australia’s transformation and with the backing of leading global airline Qatar Airways Group as a strategic investor, we believe it is now appropriate for the business to transition to a publicly listed company,” Warne said.
“This provides an opportunity for new investors to share in the success of Virgin Australia as the airline enters its next phase. I commend all those involved in orchestrating Virgin Australia’s remarkable turnaround and setting the business up for long-term success.”
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Serving approximately 20 million passengers annually, Virgin Australia operates a fleet of over 100 aircraft across 76 routes and 38 destinations, including both domestic and short-haul international flights. The airline is also expanding its reach through a new long-haul international service to Doha via a wet lease agreement with Qatar Airways, set to commence next week.
“Virgin Australia is a simple, focused business with a transformed operational and commercial model,” Emerson said. “We have a clear strategy and an incredible team of people who deliver wonderful flying experiences to our customers every day.
“We are delivering on our ambition to be Australia’s most loved airline and continuing to expand our award-winning Velocity frequent flyer program.”
The loyalty program has approximately 80 commercial partners and 13 million members, making it one of the largest loyalty programs in the country.
A prospectus has been lodged with the Australian Securities and Investments Commission (ASIC) and filed with the ASX.
