Travel recovery key to Virgin Atlantic IPO plan

Travel restrictions: A Virgin employee directs travellers at the Los Angeles International Airport. Fully vaccinated American citizens are now able to fly to Britain without the need to quarantine, but most Britons cannot freely travel to the United States. — Bloomberg

LONDON: Virgin Atlantic, the transatlantic airline founded by billionaire Richard Branson, may need a deeper travel recovery to take hold before it can secure investor backing for its plans to float on the London Stock Exchange (LSE), analysts said.

Sky News first reported Virgin’s plans for an initial public offering (IPO), saying an autumn announcement was likely. Barclays and Citi have been appointed by the airline to handle the float, a source familiar with the situation said.