Virgin Australia CEO steps down despite airline's 'strong' financial performance
Virgin Australia CEO Jayne Hrdlicka has resigned from her post despite the airlines’ strong performance in the first half of FY2024.
Hrdlicka, who led Virgin Australia during the pandemic and after the company fell into administration, believes now is the right time to find a successor who will guide the company through a potential IPO.
“This is not a decision I have taken lightly, but the last four years have been heavy lifting across the organisation during the toughest of times,” Hrdlicka said in a statement late Tuesday.
Virgin Australia is “in the midst of the next phase of our transformation program and there is a lot to do and an IPO to deliver,” she said.
“I am very proud of what the Virgin Australia team have accomplished together since the depths of administration and the COVID-19 pandemic.”
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Hrdlicka took the top position in 2020 after Virgin Australia came out of a period of administration and just as the COVID-19 crisis forced the world into lockdown.
At the height of the border closures, the CEO was reportedly criticised when she advocated for the easing of travel restrictions despite the risk of infection and deaths.
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Her decision to step down comes on the heels of the company’s announcement that it had turned in a profit after 11 years of financial turmoil.
With the growing demand for air travel now back to pre-pandemic levels, Virgin Australia was able to double its 2022 revenue to $5 billion. The airline pivoted to become a “value carrier,” a move that helped to bring the company back to profitability.
An integral part of this was Hrdlicka’s resetting of the company’s talent pipeline, according to Ryan Cotton, chairman of the board.
Hrdlicka said: “I am honoured to have been given the opportunity to guide the team to this point on its journey, and I very much look forward to seeing the continued success of Virgin Australia.”
Virgin Australia announced its board will begin a global search process for the next chief executive.