News: VAH Virgin Australia Announces New Business Plan ‍Under Ownership Of Bain Capital​

Aug 5 (Reuters) - Virgin Australia Holdings Ltd (VAH) :

• ANNOUNCES PLAN TO FOCUS ON CORE STRENGTHS, RE-ESTABLISHING ITSELF AS AN ICONIC AUSTRALIAN AIRLINE
• SEES SECURING APPROXIMATELY 6,000 JOBS WHEN MARKET RECOVERS WITH 3,000 ROLES IMPACTED
• SEES SIMPLIFIED ALL-BOEING 737 MAINLINE FLEET AND RETENTION OF REGIONAL AND CHARTER FLEET
• LONG-HAUL INTERNATIONAL FLYING IMPORTANT PART OF PLAN BUT SUSPENDED UNTIL GLOBAL TRAVEL MARKET RECOVERS
• REMOVING ATR, BOEING 777, AIRBUS A330 AND TIGERAIR AIRBUS A320 AIRCRAFT TYPES
• TIGERAIR AUSTRALIA BRAND DISCONTINUED
• INITIAL FOCUS WILL BE ON INVESTING IN CORE VIRGIN AUSTRALIA DOMESTIC AND SHORT-HAUL INTERNATIONAL OPERATION
• GROUP WILL MOVE TO ALL-BOEING 737 MAINLINE FLEET FOR DOMESTIC & SHORT HAUL OPERATIONS
• WILL UNDERTAKE A SUPPLIER CONTRACT REVIEW ACROSS ITS OPERATIONS INCLUDING PRODUCTS, SERVICES AND FACILITIES
• WILL CONSOLIDATE FOOTPRINT & MOVE CORPORATE HEADQUARTERS TO 275 GREY STREET IN BRISBANE'S SOUTHBANK
• WILL INVEST SIGNIFICANTLY IN COMPREHENSIVE DIGITAL RE-PLATFORMING OF BOTH AIRLINE AND VELOCITY FREQUENT FLYER PROGRAM
• WILL CONTINUE TO SUSPEND FLIGHTS TO LOS ANGELES AND TOKYO
• WILL INVEST IN COMPREHENSIVE DIGITAL RE-PLATFORMING OF BOTH AIRLINE & VELOCITY FREQUENT FLYER PROGRAM
• SEES POTENTIAL TO INCREASE TO 8,000 JOBS IN FUTURE AS DEMAND RECOVERS
• ALL OPTIONS INCLUDING VOLUNTARY REDUNDANCY, REDEPLOYMENT, LEAVE WITHOUT PAY & FLEXIBLE WORK ARRANGEMENTS TO BE EXPLORED
• BOOKING DATES TO BE EXTENDED TO 31 JULY 2022 FOR TRAVEL UNTIL 30 JUNE 2023
• DIGITAL RE-PLATFORMING TO ENHANCE EMPLOYEE EXPERIENCE, INCREASE PACE OF PROFITABLE REVENUE GROWTH, ENABLING JOB GROWTH OPPORTUNITIES
• TIGERAIR AUSTRALIA CUSTOMERS & THOSE AFFECTED BY CANCELLATIONS TO BE PROVIDED TRAVEL CREDIT FOR USE ON CO'S OPERATED SERVICES

Source: https://bit.ly/30v4kOq

(([email protected];))