There is limited utility in raking over these coals except that new historical information has come to light.
This sordid manoeuvre was contrary to explicit assurances Bain provided publicly and privately that Hrdlicka would not be CEO, and came fewer than three months after convincing Virgin’s creditors, including its 9,000 staff, to vote for Bain’s takeover on the basis that “we are backing Paul to successfully lead Virgin through the current turbulence and back into the skies”.
“Repositioning of the product offering drivers lower price premium which is partially offset by higher load factor enables by removal of business class cabin,” the notes added. At this stage, Bain was still just the preferred bidder in an administration sale process, yet Hrdlicka was already designing her own strategy and was proposing to turn Virgin into another Jetstar.
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