Qatar to Acquire 25 Percent Stake in Virgin Australia, Introducing New Direct Flights to Doha

September 30, 2024 TruthUSA

The deal is subject to Foreign Investment Review Board and other regulatory approvals.

Qatar Airways is planning to acquire a 25 percent stake in Virgin Australia, a deal that could increase competition in the Australian travel market.

The plan, subject to Foreign Investment Review Board approval, would enable Virgin to launch a range of new flights from capital cities to Doha.

Virgin Chief Executive Jayne Hrdlicka estimates that new long-haul services between Australia and Doha would generate an estimated economic benefit of $3 billion (US$2 billion) for the Australian economy.

“I am delighted that our closer relationship allows us to put our toe in the water regarding long-haul international, as well as the ability to deepen other areas of existing cooperation, including between our respective loyalty programs and code-sharing arrangements,” she said.

She highlighted that the deal would help Virgin compete with rivals, lowering Australian flight prices.

“Importantly, it will further strengthen Virgin Australia’s ability to compete over the long term, which will inevitably translate into more choice and even better value airfares for consumers as well as additional Australian aviation jobs,” she said.