Virgin Express, Richard Branson’s budget airline, has hired
Finsbury to handle its financial PR, ahead of its imminent flotation in
New York and Brussels.
Finsbury will focus on media work in New York, Brussels and London. The
Brussels-based airline is seeking a listing on the Nasdaq national
market and the Brussels stock exchange.
Finsbury was hired without a pitch. It handles PR for Merrill Lynch, the
investment bank which is co-ordinating Virgin Express’ share
offering.
After the float Virgin will hold 53.4 per cent of the company, employees
two per cent and the public 44.6 per cent. The flotation is expect to
value Virgin Express at around pounds 125 million.
Branson has reportedly been impressed with the success of rival
operators such as Debonair, EasyJet and Ryanair and is hoping to raise
pounds 60 million from the float to fund expansion. He formed Virgin
Express in April 1996 following the purchase of Belgian airline EBA for
pounds 36.5 million.
Virgin Express operates services from Brussels to continental Europe and
recently added a service to London.
