Aviation

Virgin Australia directors resign in droves

Huntley Mitchell

Huntley Mitchell

Virgin Australia’s administrators have announced that several of the company’s board members have departed, as its sale to Bain Capital nears completion.

Chair Elizabeth Bryan, along with directors Kenneth Dean, Trevor Bourne, Sir Allan Houston, Judith Swales and Marvin Tan all resigned last Monday.

And while formal resignation letters haven’t been tendered yet by Raymond Gammell, Hou Wei and Kevin Xing, all three now cease to hold office, with Virgin’s administrators exercising their powers to replace them on Friday.

The mass resignations follow that of CEO and managing director Paul Scurrah earlier this month.

The airline also recently confirmed to Travel Weekly that a number of senior execs had quietly exited the Virgin building since Bain Capital’s takeover deal was approved by creditors last month.

Virgin creditors and shareholders were also notified on Friday that the administrators had submitted a Federal Court application for the transfer of the company’s shares to Bain.

Those creditors and shareholders wishing to attend the final court hearing on 10 November in opposition of the share transfer will need to submit a notice of appearance by 4pm on 5 November.

However, an independent expert’s report that accompanied the circular notice concluded that the equity in Virgin has nil value.

The airline’s administrators expect to complete its sale to Bain by 30 November.


Featured image source: iStock/BeeBright

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Aviation

New Zealand gets COVID scare after infected flight attendant’s shopping spree

The Air NZ crew member shopped at a petrol station, two supermarkets, a paint shop, a pharmacy and a pet shop over two days, which is more than Travel Weekly staff usually do in a month.

Share

CommentComments

Wholesalers

APH continues to divest, offloading stake in Inspiring Vacations

The move follows Australian Pacific Holdings selling its cruise wholesaler brand to Helloworld in a bid to refocus its business.

Share

CommentComments

Hotels

Melbourne’s Rydges on Swanston to get a fresh start

It got plenty of unwanted attention during the COVID-19 pandemic, and now the Melbourne hotel has a new owner and a new name picked out.

Share

CommentComments

Cruise

Swan Hellenic opts for experience with new expedition director

The COVID-19 pandemic is certainly not slowing the iconic cruise line’s rebirth, with a second appointment announcement in as many months.

Share

CommentComments

Aviation

Qantas goes after top-tier members of other airline loyalty programs

Having tested the loyalty of its own customers in recent months with scenic flights, fully-stocked bar carts and athleisure wear, Qantas has turned its focus to those of rival carriers.

Share

CommentComments

Travel Agents

Travel Counsellors’ global conference goes virtual

While Travel Weekly didn’t get to party with Travel Counsellors staff at its annual event this year, we take comfort in knowing we were there in spirit every time a viewer swigged a cheeky wine.

Share

CommentComments

Wholesalers

G Adventures already sees 400 per cent booking increase from Cyber Sale

The sale savvy folk over at G Adventures reckon now is the time for agents to capitalise on all this vaccine talk. Find out how here.

Share

CommentComments

Aviation

Passenger plane strikes and kills bear while landing

Travel Weekly’s deputy editor had to make an impromptu Woolies run to get some extra tissues while writing this article. She also upset the office dog by cuddling him too tight upon learning about the incident.

Share

CommentComments

Hotels

Matthew Cameron-Smith talks domestic tourism, Indigenous experiences and his first 100 days at Voyages

The former head of AAT Kings and Inspiring Journeys is no stranger to domestic travel, but domestic travel during a global pandemic is a whole new kettle of fish.

Share

CommentComments

Destinations

Queensland to reopen its border to Victorians just in time for the Chrissy break

Queenslanders would be well advised to take cover, as we imagine waves of Victorians and NSW residents will be descending on the Sunshine State in the coming weeks.

Share

CommentComments

Aviation

COVID-19 deniers threaten to boycott Qantas after Joyce’s vaccine revelation

by Ali Coulton

Anti-vaxxers, COVID-19 deniers and general conspiracy theorists are having an absolute field day following the news that Qantas passengers will need a COVID-19 vaccine to travel internationally.

Share

CommentComments

Tourism

Travel tops the list of COVID-related complaints received by the ACCC

In what will probably come as a shock to no one, travel has been the most-complained about topic by consumers since COVID-19 hit.

Share

CommentComments