Virgin Australia workers call for $1000 in shares with IPO

Virgin Australia workers call for $1000 in shares with IPO
Edited by Travel Weekly

    Virgin Australia workers have laid out a five-point claim which prioritises better working conditions and includes a bid to secure shares ahead of the airline’s initial public offering (IPO).

    Airline staff within the Transport Workers Union (TWU) are calling on Bain Capital, the parent company of Virgin Australia, to prioritise and reward workers for their work and address workplace issues that have caused burnout and high turnover, invest in the airline, and maintain Virgin Australia’s high safety and service standards.

    TWU argues that Virgin workers are eager to remind the owners of their 2020 commitments to prioritise jobs and remain with the airline for the long-term to ensure ongoing stability.

    Below is the five-point claim that TWU and Virgin workers are calling on Bain to commit to:

    1.     Respect for workers

    Address cultural issues that have led to high turnover, absenteeism and disputation

    1.     Good, secure jobs

    All ground, cabin crew and pilots to be insourced in good, secure jobs

    1.     Ongoing investment

    Invest in technology, fleet and workers to maintain and grow safe, fair standards

    1.     Employee share scheme

    Annual $1,000 employee share scheme in conjunction with IPO

    1.     Industry reform

    Support the campaign for a Safe and Secure Skies Commission to rebalance aviation

    Virgin workers taking a slice of the business is something that TWU national secretary Michael Kaine believes strongly in.

    “Virgin workers were instrumental in seeing the airline through the administration process and back into profit. They have always had the airline’s best interests at heart and are today calling on Bain to ensure its long-term success,” he said.

    “Bain stands to gain hundreds of millions from an upcoming IPO, it is only right that hardworking staff are rewarded for their efforts through a reasonable employee share scheme, the likes of which are common in Australia.

    “Aviation must be rebalanced to ensure good quality jobs and service standards are prioritised over corporate greed, which has run riot at Qantas and dominated the industry. Workers are calling on Bain to join them in campaigning for a Safe and Secure Skies Commission to restore aviation to a stable, reliable industry for all.”

    Virgin ground workers and cabin crew have commenced enterprise agreement negotiations, while pilots will begin negotiations in the coming months.

    The TWU has also written to Queensland Investment Corporation (QIC) and Virgin Group as significant stakeholders that have a shared interest in the long-term success of the airline and stand to gain from a public offering.

    Earlier in the month, Virgin Australia CEO Jayne Hrdlicka said that the airline is in no rush to float the business.

    She said the airline needs to remain focused on delivering said profits and “rationally rebuilding the industry for the long term”.

    Bain Capital told Travel Weekly it has no comment on the calls from Virgin Australia workers.

    Latest News

    • Destinations
    • Events

    World Surf League picks Cloudbreak in Fiji for the 2025 WSL Finals

    Tourism Fiji has announced that the World Surf League (WSL) has selected Cloudbreak, located close to the island of Tavarua, as the prestigious venue for the 2025 WSL Finals. The event is part of the Championship Tour and will determine the men’s and women’s World Champions in a one-day, winner-takes-all competition. Fiji is renowned for […]

    • Cruise

    Silversea’s Silver Ray heads for Rome on her maiden voyage

    Silver Ray, the second Nova Class ship and the 12th in the Silversea fleet, has now embarked on her maiden voyage, departing Lisbon on June 15 and scheduled to arrive in Civitavecchia (Rome) on June 27. Stops along the way include Cadiz, Malaga, Valencia and Palma de Mallorca before the main port of  Barcelona then […]

    • Destinations

    Malolo Island Resort Fiji launches its own resort app

    Guests at the Malolo Island Resort can now get a better experience even before they arrive with the resort’s newly launched mobile app. Guests are encouraged to download and use the app ahead of their stay to build their itinerary. They can check-in prior to their arrival and make dinner and spa reservations all from […]

    • Tour Operators

    France on foot holiday savings

    Walking up a steep incline may be painful, but it is all worth it when you see that incredible view.

    • Cruise

    Seabourn introduces enhanced groups programs for travel advisors

    Leading ultra-luxury cruising and expedition travel company, Seabourne, proudly announces the “Seabourn Enhanced Groups Program” to elevate business prospects for travel advisors. This program introduces a revamped Tour Conductor Credit that offers shipboard credits or bonus commission for bookings. It also eliminates the need for deposits for small group allotments and increases group capacity. “Seabourn […]

    • Cruise

    Ponant’s latest luxury cruise expeditions for 2024 and 2025

    Head out to see the beauty of unique destinations on three bucket-list explorations of Australia with Ponant Cruise’s new luxury expeditions. Known for their luxury cruises, Ponant offers unique and truly exceptional sea voyage aboard sleek and intimately sized cruise yachts. They offer a range of discovery expeditions, and launched new cruises that take guests […]