Virgin Australia CEO John Borghetti says he’s on track to win the second of his two bets with Virgin supremo Sir Richard Branson – although he’s keeping quiet on exactly what’s at stake.
Borghetti claimed victory in his first high-stakes wager with Branson in the radical transformation of the low-cost carrier Virgin Blue to the slick and super-competitive Virgin Australia.
That bet was “to change the company within 12 months” Borghetti told Australian Business Traveller, “and I asked him to donate money to a charity.”
While Borghetti didn’t name the noble cause it’s believed to be the annual CEO Sleepout for the Homeless, where Borghetti joined other high-flying CEOs bunked out at Sydney’s Luna Park last June with a $20,000 sponsor donation from SRB in his pocket to assist the St Vincent de Paul Society provide services for the homeless.
Now the Borghetti-Branson challenge is in Round Two, “and I’m in good shape to winning this one too, at the moment I’m leading” says Borghetti. Exactly what this bet involves is yet to be revealed...
David Flynn is the Editor-in-Chief of Executive Traveller and a bit of a travel tragic with a weakness for good coffee, shopping and lychee martinis.
Virgin Blue - Velocity Rewards
12 May 2011
Total posts 23
What's the second bet?
Qantas - Qantas Frequent Flyer
17 Aug 2012
Total posts 2199
Who knows?
24 Oct 2010
Total posts 2563
He's not saying – see first par "although he’s keeping quiet on exactly what’s at stake." But as Virgin is focussing on revenue and yield rather than market share, one might suspect that it's something to do with VA financials and possibly share price...
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