Most Virgin Australia directors depart ahead of Bain Capital takeover

Saturday, 26 Oct, 2020 0

Most of Virgin Australia’s board of directors have quietly departed en masse ahead of the takeover by Bain Capital.

The airline said board Chair Elizabeth Bryan, Kenneth Dean, Trevor Bourne, Alla Houston, Judith Swales and Marvin Tan resigned, and Raymond Gammell, Hou Wei and Kevin Xing have also reportedly departed..

Bain appointed Alan Hunt as a new director.

Virgin reiterated outgoing CEO Paul Scurrah will stay on until the takeover is completed next month.

Bain Capital already announced Scurrah’s successor will be former Jetstar CEO Jayne Hrdlicka.

There is unease over Virgin’s change of business model to a ‘hybrid’ airline.

Bain has been accused of misleading creditors and employees in a classic bait and switch scheme, after promoting its bid as a continuation of its full-service airline status.

The Transport Workers Union had slammed Bain’s ‘background shenanigans.’

The union said it will now resume talks with the airline over enterprise agreements.

The administrators expect the sale to Bain to be completed by 30 November.

Written by Ray Montgomery, Asia Editor

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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