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Virgin Australia CEO Paul Scurrah to step down when Bain deal completed

Virgin Australia CEO Paul Scurrah to step down when Bain deal completed

FILE PHOTO: Aircraft from Australia's second largest airline, Virgin Australia, sit on the tarmac at the domestic terminal of Sydney Airport in Australia, Aug 19, 2018. (REUTERS/David Gray)

SYDNEY: Virgin Australia's Chief Executive Paul Scurrah will step down within weeks once the airline's sale to US private equity group Bain Capital is completed, the airline's administrator said on Thursday (Oct 15).

Jayne Hrdlicka, a former head of the Jetstar budget offshoot of Qantas Airways, will take over the top job at Australia's second-biggest airline at the financial close of the deal, expected in early November.

Scurrah had clashed with Bain about the strategy and wanted to maintain a more premium offering than desired by the US private equity firm, two people with knowledge of the matter told Reuters on condition of anonymity. 

Source: Reuters/kv

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