Virgin cleared a key hurdle in its planned takeover of Tiger Airways today, with the Foreign Investment Review Board giving the deal the green light.
Qantas boss Alan Joyce is unperturbed by the prospect of competition hotting up on cheaper airfares, and had some choice words when describing Virgin’s product strategy today:
“I’m not surprised our competitor struggles a bit to compete with such a great group. The competition to date has consisted of copying everything we do. I jokingly say that the only thing they haven’t copied is having a kangaroo on the aircraft but I wouldn’t be surprised if a Kangaroo did appear at some stage.”
Virgin, run by former Qantas executive John Borghetti, has been ramping up its efforts to snatch market share from Qantas in both the business and leisure travel segments.
Business Insider Emails & Alerts
Site highlights each day to your inbox.