Virgin Australia shares surged 11.4% in its trading debut on Tuesday, lifting its market capitalisation to A$2.58 billion ($1.7 billion), with dealmakers hopeful it will revive Australia's subdued listings market.

Get the essential facts on the Virgin Australia IPO – offer size, valuation versus Qantas, and the top risks. Learn whether the shares deserve a place in your portfolio.

The first broker note circulated before the airline’s return to the ASX argues Australia’s travel market won’t be a duopoly forever.