Qatar Airways to acquire 25% stake in Virgin Australia
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Qatar Airways announced that it will acquire a 25% stake in Virgin Australia from US private equity firm Bain Capital.
The specific amount of the transaction has not been disclosed and still needs to be approved by the Australian Foreign Investment Review Board.
If approved, Virgin Australia will be able to enter the long-distance international flight market in 2025.
According to the preliminary agreement, Virgin Australia will open flights from Brisbane, Melbourne, Perth and Sydney to Doha by "wet leasing" aircraft from Qatar Airways.
Virgin Australia CEO Jayne Hrdlicka said the transaction will improve the company's competitiveness in the Australian domestic market and expand international flight services.
Qatar Airways has been seeking to expand its Australian routes. In 2023, Qatar Airways planned to add flights to Sydney, Melbourne, Brisbane and Perth, but was rejected by the Australian government.