The move could see Sir Richard Branson lose overall control of the airline he founded.
. It said Virgin Atlantic's advisors, including banks Citi and Barclays, have in recent weeks been pitching the possible flotation to several potential big investors, which had responded positively to the idea.Virgin Atlantic revenues are heavily dependent on UK-US services, and the airline is hoping for a rapid rebound in services as lockdown restrictions ease. Earlier this year, chief executive Shai Weiss said he did not expect to see a big drop in fares as travel resumes.
A flotation would mark the first time Virgin Atlantic shares have been sold to the public, and would likely see Virgin Group's stake fall below 50%. Sir Richard founded Virgin Atlantic in 1984, and its success enabled him to build a business empire that now includes the Virgin Galactic space travel arm.
But the airline's survival appeared in doubt last year, with administrators put on standby while Sir Richard negotiatedSir Richard had tried to secure rescue funds from the UK government, which refused his request, and use his Necker Island holiday resort as collateral to raise money. A Virgin Atlantic spokesperson called reports of a possible flotation "speculation" and declined to comment further.
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