Virgin Atlantic considers going public

LONDON - Virgin Atlantic might tap the stock market as the recovery takes shape. The airline will follow up on its IPO plans by autumn, Sky News reports. Virgin Atlantic is co-owned by billionaire Richard Branson's Virgin Group, that holds a 51 percent interest, and Delta Air Lines with a 49 percent stake.

A 1.5 billion pound rescue package helped Virgin Atlantic navigate the Covid-19 storm in 2020. The airline posted a 659 million pound loss that year.

As skies brighten for aviation, Virgin Atlantic sees passengers return. The airline most recently reported a bookings surge by the 250 percent on its landmark London - New York route after Britain eased travel restrictions.

Closely held Virgin Atlantic might use this momentum to sell some of its stock to investors - Sky News reports management considers goeing public by autumn. The company declined to comment.

Virgin Atlantic recently held a cash balance of nearly 200 million pound.