Qatar Air eyes 20% stake in Virgin Australia

Friday, 28 Jun, 2024 0

Gulf carrier Qatar Airways could be about to get revenge on Qantas.

The airline is reportedly lining up a deal to acquire a 20% airline stake in Qantas’ biggest rival Virgin Australia.

Qantas was instrumental in persuading the Australian government to block Qatar Airways’ planned expansion in Australia.

It seems to be well advanced as the report suggests Virgin could announce details next week.

The Doha based airline would buy the airline stake from Virgin Australia backer Bain Capital.

Also, Bain has been in talks with old investor Singapore Airlines, which had a near-20% stake prior to Bain taking over.

A foreign investment of this size from either airline would require Foreign Investment Review Board approval

Virgin Australia and Singapore Airlines have had an alliance partnership for more than a decade.

Qatar Airways previously partnered with Qantas before linking up with Virgin Australia a year ago.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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