Virgin Australia boss announces shock resignation

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Virgin Australia chief executive Jayne Hrdlicka has announced she is resigning after nearly four years in charge of the airline.

Having taken charge of the carrier in 2020 after it was bought out of administration by Bain Capital, Hrdlicka said it was time for her to move on and "pass the baton on".

"This is not a decision I have taken lightly, but the last four years have been heavy lifting across the organisation during the toughest of times," she said in a written statement.

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Virgin Australia CEO Jayne Hrdlicka.

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"We are in the midst of the next phase of our transformation program and there is a lot to do and an IPO to deliver.

"The next phase of this journey is another 3-5 years, making now the perfect juncture to begin the process of leadership transition to deliver the next few chapters of what I'm sure will be a significant long-term success story."

Virgin Australia returned a profit for the first time in more than a decade last financial year, a marked reversal of fortunes from when Hrdlicka was appointed chief executive after the airline went into administration.

"Jayne has led Virgin Australia through the most turbulent times of its 20+ year history," chairman Ryan Cotton said.

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"Her leadership was fundamental to repositioning the airline back to its roots as a value carrier, returning Virgin Australia to profitability for the first time in 11 years.

"To do this required a lot of heavy lifting and the rebuild of many parts of our organisation."

Cotton added she was leaving with Virgin's "gratitude and best wishes".

Hrdlicka will stay on in the role while the airline conducts a global search for her successor.

Neither she nor Virgin have said when her last day will be.