Paul Scurrah will depart his position as chief government of Virgin Australia when the deal to promote the service to Bain Capital closes.
The transfer is anticipated to come back in early November.
Deed directors on the deal for Deloitte Restructuring Providers, Vaughan Strawbridge, mentioned: “Paul has performed an excellent job supporting us by means of this course of.
“His distinctive management enabled us to stabilise the enterprise and obtain a sale in a well timed and orderly method.
“It’s a testomony to his management that we have now been capable of full this sale and the enterprise is nicely positioned to play its important position within the rebuilding of the Australian aviation trade and financial system extra broadly.”
He added: “I do know there was hypothesis in regards to the form of the airline into the longer term, and I’ve reaffirmed with Bain Capital that Virgin Australia is not going to be repositioned as a low-cost service.
“Virgin Australia can be a ‘hybrid’ airline, providing nice worth to clients by delivering a particular Virgin expertise at aggressive costs.
“This can attraction to the total spectrum of travellers, from premium company by means of to extra budget-focused clients.”
Virgin Australia went into voluntary administration in April earlier than the US personal fairness group purchased it.
The airline struggled underneath journey bans imposed by the Australian authorities as a result of Covid-19 pandemic.
Scurrah is believed to have had considerations over the longer term course of the service.
He mentioned: “During the last 18 months, I’ve had the nice privilege of being the chief government of the Virgin Australia Group.
“Whereas it has been probably the most difficult time in aviation historical past, I’ve continued to be so happy with the way in which my workforce and our complete organisation has fought to save lots of this airline and to maintain competitors alive and nicely in Australia.
“We have now succeeded in not simply guaranteeing the way forward for the corporate, but additionally reset the enterprise to make sure it’s nicely positioned to ship for Bain Capital for a few years to come back.”
Jayne Hrdlicka – at present board president of Tennis Australia – is anticipated to be appointed by Bain Capital as chief government as soon as the transaction is full.
She beforehand held the position of chief government officer at Jetstar.