Virgin Australia strategy, CEO search complicated by airline investors

Reuters –

SINGAPORE (Reuters) – Under CEO John Borghetti, Virgin Australia Holdings Ltd (VAH.AX) transformed from a budget airline into a serious rival to Qantas Airways Ltd (QAN.AX) with the backing of strategic investors including Singapore Airlines Ltd and China’s HNA Group.

The support, however, came at a price – a shareholder register dominated by airline partners with competing interests and a sometimes fractured board.

Borghetti, only the second CEO since the company began operations in 2000, has announced plans to depart, leaving open one of the toughest jobs in aviation.Read more…

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