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How a nervy market grounded Bain’s Virgin before IPO take-off

How a nervy market grounded Bain’s Virgin before IPO take-off

Jayne Hrdlicka always faced an uphill battle. Investors were encouraged to push her hard on the airline’s strategy. The doubts could not be overcome.

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Jayne Hrdlicka always faced an uphill battle.

When she landed at Virgin Australia, it was to replace Paul Scurrah. The company had fallen into administration during the COVID-19 pandemic and been acquired by Bain Capital. Despite the Boston-headquartered private equity firm suggesting Scurrah would stay, he was soon out.

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Anthony Macdonald
Anthony MacdonaldColumnistAnthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Ayesha de Kretser
Ayesha de KretserSenior reporterAyesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au

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Original URL: https://www.afr.com/companies/transport/how-a-nervy-market-grounded-bain-s-virgin-before-ipo-take-off-20240311-p5fbfv