Jayne Hrdlicka, the former CEO of Virgin Australia, departed in March 2025 after leading the airline through its recovery from bankruptcy and into profitability, prior to its June IPO.

During her tenure starting in November 2020, Hrdlicka oversaw major restructuring efforts, including pulling back from international flights and establishing a partnership with Qatar Airways.

Her departure followed Virgin Australia's successful relisting on the ASX in June 2025, with the airline now valued at approximately $2.3 billion.

Hrdlicka's exit package was substantial, totaling over $50 million, which included a significant share allocation and cash payments.

She received 10.44 million shares valued at about $33.5 million, with the shares subject to escrow conditions and scheduled for gradual release from February 2026 to August 2027.

Her total compensation also included over $20 million in cash, with $18.4 million designated as short-term incentives payable in September 2025, and a termination payment of $4.2 million.

Hrdlicka forfeited 6.8 million shares upon leaving but retained 10.2 million shares, which increased in value from $29.7 million to over $33 million as the share price rose.

Her package was negotiated with Bain Capital, Virgin Australia's private equity owner, which still holds a 25% stake in the airline, locked until after the company's first-half results in February.

Hrdlicka, who is set to become CEO of Dan Murphy’s in early 2026 and continues as chair of Tennis Australia, has a background as a Bain consultant and former CEO of the a2 Milk Company.

Her departure and performance-related payments will be released gradually over three years, contingent on post-employment conditions.

Virgin Australia’s current CEO, Dave Emerson, is expected to receive a $13.7 million package, primarily in shares, comparable to other airline executives.

Hrdlicka’s leadership during the pandemic and her strategic decisions significantly contributed to Virgin Australia's turnaround and subsequent IPO success.