The Board of Virgin Australia Holdings says it will remain a publically-listed firm for now after confirming there are no current plans to take it private.

"The Board has been looking at whether it is appropriate to remain listed, or to become a privately held company," Chairman of the Board Elizabeth Bryan said in an ASX disclosure. "Following discussions with the major shareholders, the Board has decided not to privatise the company."

However, Virgin Australia has announced it will now undertake a share buyback scheme to mop up the remaining free-float equity of 9% that is currently held by more than 38,000 small and individual shareholders of whom approximately 21,000 hold unmarketable stakes worth less than AUD500. As such, Virgin Australia will pay AUD0.30 cents per share or AUD5 million Australian dollars (AUD3.9 million) in total.

Virgin Australia's largest shareholders currently include Etihad Airways with 21.83%, Singapore Airlines with 20.09%, Nanshan Capital Holdings et al. (19.98%), HNA Tourism Group (19.17%), and Corvina Holdings (10.42%).