The Australian Federation of Travel Agents (AFTA) today applauded a commitment from Cyrus Capital to protect the estimated $100m worth of pre-paid Virgin Australia tickets purchased through member travel agents.
AFTA Chair Tom Manwaring had written to Virgin Australia Administrator Deloitte as well as the two remaining biders Cyrus Capital and Bain Capital seeking urgent confirmation that these tickets currently held with Virgin Australia will be protected and honoured.
Jonathan Peachey, Senior Adviser, Cyrus Capital responded to AFTA’s representations with the following commitment:
“Consumer and agent confidence in Virgin Australia is of paramount importance to Cyrus Capital. Cyrus acknowledges the important role that agents play in the travel and tourism industry, and we appreciate the faith that agents have placed in Virgin Australia during recent months.
From our previous twelve-year-long experience as the lead shareholder in award-winning U.S. airline Virgin America, Cyrus Capital knows first-hand that customers and employees are the lifeblood of a Virgin airline.
I am pleased to confirm without hesitation that if Cyrus becomes the new owner of Virgin Australia, tickets booked and paid will be honoured so that customers can take their flights with the airline. In the event that changes to Virgin Australia’s flight schedule are necessary as operations increase, Cyrus will ensure that affected customers receive credit to rebook on alternative Virgin Australia flights.
Rewarding customer loyalty is also important to Cyrus, especially at this time, and if Cyrus becomes the new owner of Virgin Australia, points held by members of the Velocity Frequent Flyer program will be protected and honoured.
I trust this email provides comfort to your members’ customers that we have their interests very much in mind, and I truly hope that Cyrus will have the opportunity to bring its deep airline experience to bear in working with Virgin Australia management to return the airline to financial health and long term prosperity for the benefit of customers, employees and stakeholders.”
AFTA Chair Mr Manwaring said “Consumers who have booked and paid in good faith must be able to fulful their flights with the airline post sale. AFTA will continue to lobby in the interests of our members and their customers.”
AFTA is still waiting for a response from Bain Capital.
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