Virgin Atlantic is looking to hire a derivatives-savvy group treasurer. The second-largest U.K. airline plans to hire a treasurer to manage, among other duties, the airline's foreign exchange and interest-rate exposure. The hire would be a replacement for Andrew Avann, group treasurer, who recently left Virgin, according to Reiner Siebert, manager of insurance and risk management in Crawley, U.K. Siebert declined comment on where Avann has gone.
The airline set up a business risk analysis group earlier this year to look at all risks, financial and non-financial, that it may face (DW, 1/29). "We know there are problems in the airline sector, but we still need a treasurer," Siebert added. He was unaware whether the airline has begun to use foreign exchange and interest-rate derivatives and referred further queries to Julie Southern, cfo. She was travelling and unavailable for comment.
