According to media reports, Richard Branson's Virgin Atlantic is considering an initial public offering and possibly listing on the London Stock Exchange to strengthen the company's finances.

According to the report, Branson's Virgin Group owns 51% of the shares in British Crawley Airlines. The airline has been discussing a possible IPO with institutional investors. Insiders said that bankers from Citibank and Barclays have been hired to oversee this listing.

Based on positive responses from institutional investors during discussions, the company may announce its IPO intentions in the fall. The initial public offering will be Virgin's first sale of shares to the public since it began operations in 1984.

Unless Branson chooses to subscribe for new shares in the airline, he could also relinquish control of the company through an IPO. Delta owns the remaining 49% of Virgin Atlantic's shares.

Insiders say Virgin is not in a hurry for funding because it has enough to get through the next few months. However, Branson and other executives are reportedly open to the idea of an IPO to provide future funding opportunities as the airline industry recovers from the COVID-19 pandemic and beyond.

After Virgin's transatlantic travel business was hit hard by the pandemic in 2020, the airline arranged a £1.1 billion ($1.67 billion) bailout plan last September, which included £200 million from Branson, loans from hedge fund Davidson Kempner Capital Management, and funding from existing creditors.