Virgin Australia CEO: Virgin Australia is not driven by a strategy of uncompetitively low prices

Virgin Australia CEO John Borghetti addressed (20-Nov-2013) criticism by competitors stating: "To say that Virgin Australia is driven by a strategy of uncompetitively low prices and irrational behaviour is offensive and absurd. The airline is run rationally with good management and a view to creating a long term sustainable and profitable business. It is our superior cost position that enables us to bring lower fares to the market. In fact, we are continuing to position Virgin Australia to grow and compete even more effectively in the Australian market for the benefit of our shareholders, our customers and all of our stakeholders. We have embraced change and competition and adapted our business to it". Mr Borghetti added, "When you bring competition to a monopoly, prices do go down, if this is affecting our competitor's bottom line, I am not going to apologise. Australian travellers and the Australian economy are benefiting, and ultimately, shareholders will too". [more - original PR]