Qatar Airways is set to acquire a 25% equity stake in Virgin Australia from Bain Capital, as announced in a joint press release from both airlines. The deal, pending approval from Australia’s Foreign Investment Review Board (FIRB), is expected to enhance competition in the Australian market, offering consumers increased access to international destinations and affordable airfares.
Virgin Australia CEO Jayne Hrdlicka referred to the partnership as a crucial element in the airline’s long-term strategy, which will bolster its ability to compete, grow, and create jobs. Meanwhile, Qatar Airways Group CEO, Eng. Badr Mohammed Al-Meer, emphasised the alignment of both airlines’ ambitions to deliver more value for Australian passengers. The partnership is expected to generate A$3 billion in economic benefits over five years.
In addition to new long-haul services between Australia and Doha, both airlines are focusing on sustainability through the development of Sustainable Aviation Fuel (SAF) and cooperation at the upcoming Western Sydney Airport.
This move is part of Qatar Airways’ broader strategy of global expansion, including stakes in several major international carriers like International Airlines Group, LATAM, Cathay Pacific, and RwandAir.
This post was published on 1 October 2024 09:35
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