Virgin Australia CEO: 'We did not do the IPO in order to raise capital'
Virgin Australia CEO David Emerson, speaking at the CAPA Airline Leader Summit Australia Pacific, stated (31-Jul-2025) "We did not do the IPO in order to raise capital. We did it to transition owners, so we have the right owners for the next phase of our journey". Mr Emerson said: "Bain Capital has been a great owner for us and the best owner for the phase of the journey we were in, but their business model requires them to return capital back to their investors to its a good time to hand the baton to new owners".
Background ✨
Virgin Australia raised AUD685 million through its IPO and began trading on the ASX as 'VGN', with Bain Capital's stake reducing to 39.4% and Qatar Airways retaining a 23% holding following the listing on 24-Jun-20251 2 3. The board saw new appointments, including Peter Warne as independent chairman and CEO Dave Emerson as managing director2.