Bain Capital plans to sell Virgin Australia Airlines Pty Ltd. in November through an IPO that could raise around A$1 billion (US$665 million), the country’s largest sum in two years, people familiar with the matter say.
The private equity owner plans to sell about 40% of its stake in the airline, which it bailed out in 2020 in a A$3.5 billion deal, said the people, who wished to remain anonymous as the information is confidential. A listing could value Virgin Australia close to A$2.5 billion, the people said. Its competitor Qantas Airways Ltd. has a market value of around AUD 11.6 billion.
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