Aviation

Virgin Australia CEO, John Borghetti to step down

Virgin Australia’s CEO and managing director, John Borghetti has decided to step down.

According to a release on the ASX, Borghetti advised the board not to renew his contract post 1 January 2020, allowing the airline enough time to find a new CEO and smoothen the transition.

Borghetti, who has worked in aviation for 40 years including for Virgin’s rival Qantas, will have been with the company for a decade by the time of his departure.

“The board and I are grateful to John for providing a generous period of time for the search for the CEO and an appropriate transition of leadership,” Chairman of the Virgin Australia Group, Elizabeth Bryan said.

“The board will now commence a global search for a successor while John will remain focused on leading the group.”

“I would like to acknowledge John’s enormous contribution to the Virgin Australia Group to date and thank him for his continued dedication.”

Borghetti said it is a privilege to serve as CEO of the Virgin Australia Group and to lead a wonderful team of 10,000 people.

“By notifying the board of my intentions now, it provides them with appropriate time to conduct a thorough recruitment process and for me to support the transition,” Borghetti said.

“In the interim, I look forward to continuing in the role of CEO and I remain focused on delivering the goals of the Virgin Australia Group.”

Business Insider Australia reports the company’s underlying profit before tax 142 per cent in its latest half-year results, which was its highest in 10 years.

“This demonstrates the success of our long-term strategy to reposition the business and strengthen its financial foundation; however there is more work ahead to ensure we continue to deliver,” Borghetti said at the time.

“Based on the Group’s recent positive performance trajectory, current market conditions and fuel headwinds net of foreign exchange for the second half, we expect the Group’s underlying performance for the second half of the 2018 financial year to improve compared to the Group’s underlying performance for the second half of the 2017 financial year.”

Borghetti has not yet given a reason for his departure, but last year alone he was paid $5,567,821 according to Business Insider, and to be honest if someone gave us that much money we’d probably quit our jobs and go on a permanent holiday.

So we assume that’s his plan too.

200 (1)

SEE WHAT PEOPLE ARE SAYING

Aviation

Here’s what the reemergence of ultra-long haul flights means for aviation

Looks like we won’t be hitting up a 15 – 19-hour flight anytime soon, and it’s not just because we’re scared of confined spaces. And flying.

Share

CommentComments

Travel Agents

Build your clients the ultimate West Hollywood itinerary + earn rewards!

Excite have a wonderful new incentive kicking off this week to make your Tuesday a little more bearable.

Share

CommentComments

Hotels

This hotel chain will let you spray paint their walls for the rest of the year

Need a creative outlet but don’t have a canvas handy? Just stay at one of these hotels! You could also just buy a canvas, but what’s the fun in that?

Share

CommentComments

Travel Agents

Flight Centre profits down due to ABC story and EBA negotiations

by Ali Coulton

Flight Centre shares dropped lower than our post-weekend motivation levels this morning as Skroo outlined a cautious outlook for FY19 at the company’s AGM.

Share

CommentComments

Aviation

Start prepping for a long flight weeks before you leave, according to science

If you hate waking up at 3am because of jetlag, here’s what you have to do to get past it. And let’s be honest, who doesn’t hate waking up at 3am?

Share

CommentComments

Aviation

Ryanair faces boycott for mishandling racist attack

Ryanair is facing criticism after a video of a man yelling racist abuse at an elderly black woman has gone viral.

Share

CommentComments

Travel Agents

AFTA cancels ATAS accreditation for whopping 20 agencies

AFTA is revoking ATAS accredited statuses left, right, and centre. Now is a good time to make sure you’re complying with their code of conduct.

Share

CommentComments

Wholesalers

Big Fat Wholesaler Wrap

Wholesaler wraps are our favourite thing about Mondays. Well, that and… wait, no. There’s nothing else we remotely like about Mondays.

Share

CommentComments

Cruise

Weather forces APT and Travelmarvel to cancel river cruises

Just in case you needed another reason why climate change sucks, some unseasonably warm and dry weather has just ruined a bunch of river cruise holidays.

Share

CommentComments

Hotels

Opinion: Here’s why hotels need to cater to the solo traveller market

by Klaus Kinateder

Sydney’s Tank Stream Hotel GM, Klaus Kinateder thinks hotels need to put in more effort to tap into the solo traveller market. Here’s how it’s done.

Share

CommentComments

Hotels

SKYE Suites in Sydney’s CBD opens its doors this week

Got a client looking for somewhere to stay in Sydney? Want to procrastinate by looking at pretty pictures of a new hotel? Either or, we’ve got you covered.

Share

CommentComments

Destinations

Self-Confessed “Boring” Nebraska Declares “It’s Not For Everyone”

Sounds like it has a lot in common with Mondays. Only we suspect you need significantly less caffeine to get through Nebraska.

Share

CommentComments