Conditions are perfect for the listing with Qantas shares surging, oil prices down and domestic demand as strong as ever. But are we near the top of the cycle?
It’s hard to know who Bain Capital and the bankers and its advisers behind the float of Virgin Australia should thank more: Scott Bessent, Vanessa Hudson or Prince Abdulaziz bin Salman Al Saud.
Having missed a narrow IPO window last year – in part because fund managers didn’t love former chief executive Jayne Hrdlicka and in part because Bain wanted to bring Qatar Airways on board as a cornerstone investor – Bain and its bankers from Goldman Sachs, UBS and Barrenjoey have pulled off a deal that looked highly improbable when US President Donald Trump made his “liberation day” tariff announcement on April 2.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
