By Colin Kruger

Copyright smh

These incentives are typical of the lucrative bonuses offered by private equity owners such as Bain, which acquired the airline out of administration and sold down its stake in the public sale of the business.

Hrdlicka’s shares are still subject to escrow conditions but will be released between February next year and August 2027.

Hrdlicka was not mentioned by Virgin chairman Peter Warne, or her CEO replacement, Dave Emerson, in their letter to shareholders in the annual report despite the fact she was running the airline for most of the financial year.

“During her tenure, Jayne successfully led the group’s exit from voluntary administration, stand up of the airline following the COVID-19 pandemic and the transformation of Virgin Australia into a profitable and sustainable business,” the annual report says on page 67.