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

Destinations

“Dust off the good china”: Chris Hemsworth agrees to visit Cowra for a “chinwag” following video campaign

The rural NSW town’s delightful ‘Get Chris to Cowra’ campaign appears to have paid off, with the Hollywood hunk planning a visit in 2022.

Share

CommentComments

Technology

The ACCC wants Trivago to be fined at least $90m for deceiving consumers

Australia’s consumer watchdog reckons Trivago’s crimes could, in theory, equate to hundreds of billions of dollars in fines, which makes $90 million look like a good deal to us.

Share

CommentComments

Wholesalers

Intrepid Travel unveils first rebrand in more than 15 years

It’s out with the old and in with the new over at Intrepid. However, it’s understood that the plush leather sofa in reception will stay.

Share

CommentComments

Aviation

Aussie aviation industry streamlines approach to guiding travellers through new restrictions

The differing reopening roadmaps of the states and territories will no doubt cause headaches for travellers, hence this from A4ANZ.

Share

CommentComments

Destinations

Switzerland is calling

Aussies craving for their Swiss fix can now not only look forward to being welcomed back with wide-open arms, but also a host of brand new and thoroughly enriching experiences.

Share

CommentComments

Midweek Interview

Life in the time of COVID-19 with Hilton’s Paul Hutton

We covered a lot in our chat with Hilton’s boss for Australasia – even his music tastes. Just don’t play house or rap tunes around him, though.

Share

CommentComments

Destinations

Brisbane Airport flags elements of “great concern” in Queensland’s reopening roadmap

Premier Palaszczuk’s reopening roadmap for Queensland hasn’t gone down too well with the state’s main airport.

Share

CommentComments

Travel Agents

Barry Mayo talks border reopenings and the silver lining of confusing travel restrictions

The industry veteran reckons ever-changing global travel restrictions may have a silver lining for agents.

Share

CommentComments

Destinations

Eerie ancient ruins meet brimming coral gardens: Your guide to selling Bohol

by Sponsored by Philippines Department of Tourism

There’s more to Bohol than bug-eyed tarsiers and the dramatic scenery of the Chocolate Hills. Take a closer look at one of the most visited destinations in the Philippines’ and craft a genuinely unique experience for your clients.

Share

CommentComments

Cruise

Insta-famous cruise captain Kate McCue to take the helm of Celebrity Beyond

The fabulous, trailblazing and Insta-famous Kate McCue has been chosen to steer Celebrity’s newest ship once it takes to the water in April next year.

Share

CommentComments

Aviation

Six airport workers charged over plans to import “large quantity” of drugs into Sydney

The Sydney Airport workers might have gotten away with it too if it wasn’t for COVID-19 disrupting flight schedules.

Share

CommentComments

Hotels

Wyndham unveils new all-inclusive resort brand

The hotel franchising giant has pulled back the curtains on brand number 22, debuting with a couple of bangin’ beachfront properties.

Share

CommentComments