Jayne Hrdlicka heads for the exit door

Departing Virgin Australia boss Jayne Hrdlicka is best known in this country for her brief but lucrative stint as managing director and chief executive of a2 Milk which she left in December 2019 after less than 18 months in the job.

Late in 2018, she drew flak after selling about 340,000 shares in the company, worth $4.3m, just a few months into her time there and then quit a year later to join Virgin. But she also had a key role in a happy period for air travellers in this country when she headed Qantas subsidiary Jetstar.

It was under her tenure the Aussie budget carrier launched flights to Napier, Nelson, New Plymouth and Palmerston North. For four years Jetstar was critical in dragging down the cost of notoriously high fares on regional routes.

It didn’t make money so was pulled the pin in late 2019.

Hrdlicka joined Virgin Australia after it had collapsed into administration as the pandemic hit and it had been recapitalised by its new Bain Capital owners who want to relist.

She said this week “the time was right” to leave but she will stay as chief executive while a search for her replacement is on.

Virgin pulled back from international routes during her tenure, including connecting main centres in New Zealand and Australia, leaving a big gap in the transtasman market.

But the focus on Australian domestic has paid off with the airline back in profit and its private-equity owners keen to relist it on the stock exchange. Commentary across the Tasman suggests her departure could further delay the IPO.

While it’s a global hunt for her successor, one name reported as a candidate is close to home.

Former Qantas loyalty boss Olivia Worth announced she was leaving that airline after missing out on the top job at that airline to succeed Alan Joyce and is tipped as a candidate for the top job at Virgin.