Virgin Australia Holdings CEO to not renew contract

Virgin Australia said Tuesday CE and MD of Virgin Australia Group John Borghetti will not be renewing his contract post Jan. 1, 2020. Australia’s second-biggest airline will start a search for a successor, it said. The decision comes at a tumultuous time for the Brisbane-based company, with Air NZ ending its seven-year alliance with Virgin Australia in April, turning partners into rivals in the hotly competitive route between the two countries. The airline also scrapped its plans to potentially go private earlier this year, fueling concerns that a major Chinese shareholder, HNA Tourism, may be about to exit.<br/>