VA has considered privatisation

VA has considered privatisation

VIRGIN Australia’s board has held discussions about delisting the company from the ASX, according to an update delivered by chairman Elizabeth Bryan at the carrier’s agm (TD yesterday).

Bryan noted that there had been ongoing speculation over the last year about VA’s status as a publicly listed company.

“The group has a small free float and many have asked the question of whether it is appropriate to remain listed, or to become a privately held company,” Bryan said.

The free float amounts to around 7%, alongside major shareholders including Etihad, Virgin Group, NHA, Nanshan Group and Singapore Airlines.

Bryan said the discussions had not resulted in any outcome to report to the market at this stage.

However the update, along with stronger first quarter sales and load factor figures for the carrier, saw VA’s shares lift in price to record a gain of more than 12% (around 3c) on the day.

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Source: traveldaily