Qatar Airways to acquire stake in Virgin Australia

Gulf carrier Qatar Airways plans to take a 25% stake in Virgin Australia.

The airline agreed a deal with Virgin parent Bain Capital.

The transaction is subject to a final approval by Australia’s Foreign Investment Review Board

“This partnership brings the missing piece to Virgin Australia’s longer-term strategy,” said Virgin CEO Jayne Hrdlicka.

“It will further strengthen Virgin Australia’s ability to compete over the long term, which will inevitably translate into more choice and better value airfares.”

A deal would spur expansion of Virgin Australia’s international network.

It plans to launch Doha flights from Brisbane, Melbourne, Perth and Sydney.

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