Global airline initial public offerings still need a tailwind to fly. Among those waiting to list are Hong Kong Airlines, Virgin America and Bangkok Airways. Yet, most such sales since 2010 have lost altitude. Hopefuls need something special to buck the industry's trend of value destruction. Only three out of 15 global airline stock listings since the start of 2010 are trading above their offer price as of October 3, according to an analysis by Breakingviews. Low-cost US carrier Spirit Airlines has performed best; Singapore's budget Tiger Airways worst. Returns in the industry ...
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