Virgin Australia boss to step down
VIRGIN Australia chief executive John Borghetti will leave his role in 2020, ending a decade at the company.
The airline says Mr Borghetti will not renew his contract post January 1, 2020, giving it ample time to recruit an incoming chief executive and allow for an appropriate transition.
The former Qantas executive, who joined Virgin Australia in 2010, says he looks forward to continuing his role while the company undertakes a global search for his successor.
"It is a privilege to serve as CEO of the Virgin Australia Group and to lead a wonderful team of 10 000 people," Mr Borghetti said in a statement on Tuesday.
"I remain focused on delivering the goals of the Virgin Australia Group."
Mr Borghetti previously was executive general manager at Qantas for six years where he was responsible for more than $10 billion in annual revenue and assets including about 200 aircraft.
His decision to leave Virgin Australia comes after Air New Zealand in April announced it will end its strategic alliance with the airline in October 2018 because of changed market dynamics on the trans-Tasman route.
Air New Zealand and Virgin Australia have co-operated on trans-Tasman services since 2010.
At the time, Mr Borghetti said the end of the alliance would provide opportunities for Virgin Australia and its discount Tigerair brand.