The TWU, which has been calling for Virgin to commit to an employee share scheme as part of a five-point claim on Bain Capital, welcomes the announcement that Virgin employees will receive $3000 worth of share rights for employees for any potential IPO.
The TWU is calling on Bain Capital to fulfill the remaining claim items as well as accelerate and embed consultation as part of its Qatar partnership.
The TWU is also calling on Virgin to pursue industry reform with the TWU via a Safe and Secure Skies Commission after it made a claim on airlines, airports, regulators and the Federal Government last week.
TWU National Secretary Michael Kaine said:
"It's a relief to see an aviation company treating workers as an investment rather than a cost to be ruthlessly cut.
"Virgin workers have been hugely instrumental in returning this company from the brink of devastation to a strong second airline. These workers have stuck loyally by Virgin during the toughest time aviation has ever faced, and this is a welcome announcement that workers have deservedly called for to recognise their efforts.
"Along with movement towards insourcing ground jobs, and commitments to consultation with workers around the Qatar partnership, we are seeing positive steps towards a better relationship between workers and Virgin.
"With many areas of aviation in crisis, we now need to see Virgin join us in pursuing reform to return aviation to an industry that works for the whole community.
"Decisions prioritising workers and passengers should be the norm in aviation, not the exception. We need a Safe and Secure Skies Commission to ensure this becomes standard once more."
Notes:
In 2023 TWU members made the following five-point claim on Bain Capital:
1. Respect for workers
Address cultural issues that have led to high turnover, absenteeism and disputation
2. Good, secure jobs
All ground, cabin crew and pilots to be insourced in good, secure jobs
3. Ongoing investment
Invest in technology, fleet and workers to maintain and grow safe, fair standards
4. Employee share scheme
Annual $1,000 employee share scheme in conjunction with IPO
5. Industry reform
During the pandemic, TWU members were key in the administration process, calling for commitments so that Virgin could retain its regional and international footprint and remain a strong second airline.
