Loveholidays, the online travel agency backed by Livingbridge, is preparing for a London IPO that could value the business at more than £1bn ($1.3bn), in a move that could help reignite activity in the UK’s dormant listings market, according to Bloomberg.

The private equity-backed company has appointed Barclays and JPMorgan to advise on the deal, according to people familiar with the matter. CEO Donat Rétif said London would be the natural choice for the flotation. “We are evaluating an IPO and that is the option which excites me the most,” he added, calling Loveholidays a “homegrown, British business.”

The company generated £288m in revenue and £83m in adjusted EBITDA in the 12 months to October 2024. Unlike rivals Jet2 and easyJet, Loveholidays does not own aircraft or hotels, instead bundling travel services from providers, which allows it to offer customers discounted package holidays.

Rétif said demand is increasingly driven by younger travellers, with under-35s now accounting for one-third of customers. He also pointed to AI investment as a way to improve the company’s platform. “Travel has become so essential for those of us that live in Britain that many now view it as a non-discretionary spending item,” he said.

If completed, the listing would be one of the first major UK travel IPOs in recent years and a welcome boost for London, where new issuance has struggled to recover.

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