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June 12 (Reuters) - Virgin Australia Holdings Ltd VAH.AX said on Tuesday Chief Executive and Managing Director of Virgin Australia Group John Borghetti will not be renewing his contract post Jan. 1, 2020.
Australia's second-biggest airline will start a search for a successor, it said in a statement.
The decision comes at a tumultous time for the Brisbane-based company, with Air New Zealand AIR.NZ ending its seven-year alliance with Virgin Australia in April, turning partners into rivals in the hotly competitive route between the two countries. airline also scrapped its plans to potentially go private earlier this year, fueling concerns that a major Chinese shareholder, HNA Tourism, may be about to exit. decision overshadowed Virgin Australia's best underlying half-yearly profit in a decade, leading to a sharp fall in its share price.