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Doha, Qatar: Qatar Airways plans to acquire a minority 25% equity stake in Virgin Australia from Bain Capital, subject to Foreign investment Review Board approval.
In a press statement, Virgin Australia said that a deeper strategic relationship between Virgin Australia and Qatar Airways will drive increased competition in Australian aviation, ensuring travellers to Australia have access to even better value airfares and greater choice.
The airlines further said that once approved, this cooperation will enable Virgin Australia to launch flights from Brisbane, Melbourne, Perth and Sydney to Doha, connecting seamlessly into Qatar Airways' global network. These extra flights will open up more than 100 new connecting itineraries across Europe, the Middle East and Africa for Australian travellers.
The proposed wet lease services will begin in mid-2025, allowing Virgin Australia to assess the longer-term merits and viability of wide-body aircraft flying while providing Australians with greater local competition for their long-haul travel needs in the near-term.
The deepened partnership has the potential to underpin significant jobs and economic growth, not just in Virgin Australia but across both the broader aviation and tourism sectors in Australia.
Commenting on the partnership, Qatar Airways Group CEO Eng. Badr Mohammed Al-Meer said:“We are really pleased to be announcing our proposed strategic investment in Virgin Australia today. The alignment of our two airlines is significant, the relationships are deep, and we could not be more proud to bring even more great value and choice to all Australians. The investment further demonstrates our strategic alignment with Virgin Australia and our collective ambition to deliver the best possible service and value to Australian passengers.”
He further added,“Not only that, we believe competition in aviation is a good thing and it helps raise the bar, ultimately benefiting customers. This agreement will also help support Australian jobs, businesses and the wider economy.”
Virgin Australia Group CEO Jayne Hrdlicka said, "Qatar Airways has been a valued codeshare partner of Virgin Australia since 2022. This investment by the world's best airline will deepen an already strong partnership by bringing critical scale and the best industry expertise to support our long-term competitiveness and growth."
He also added that,“both airlines are thrilled by the opportunity to work together more closely, which will bring significant benefits to Australian travellers and the economy."
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