Bain Capital’s big dividend comes as Virgin prepares to make profit share payments to eligible workers ahead of an anticipated float.
The company had previously been racing to get the float away as soon as June, telling staff it had $2.5 billion in revenue in the six months ended December 31 on a profit margin of 5 per cent. Itformer Macquarie Group chairman Peter Warne and ex-Goldman Sachs managing director Pippa Downes to the board in preparation for life as a listed entity.
“While we have much work to do as part of our ongoing transformation journey, it is important that we pause and acknowledge the monumental feat to date right across the organisation to stand Virgin Australia back up post-administration and navigate through the many ups and downs of the global pandemic,” she said.
“[It] means that eligible team members will have received 6 per cent of their salary as a discretionary bonus over a two-year period,” Ms Hrdlicka said. “Similar bonus payments will also be awarded to eligible team members in other work groups and will be communicated separately.”
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