Qatar Airways is close to finalising a stake of up to 20pc in Virgin Australia, with an announcement expected to be made as early as next week.
The investment comes as reports suggest Virgin Australia’s much-delayed IPO may be held before the end of the year, following comments by Qatar Airways CEO expressing interest in participating in the offering.
Virgin Australia, primarily a domestic operator in Australia, operates a fleet of 94 narrowbody aircraft servicing airports within the country and short-haul international routes to destinations such as New Zealand, Indonesia, and the South Pacific Islands.
Despite facing financial challenges and undergoing voluntary administration in 2020, Virgin Australia was subsequently acquired by Bain Capital and has returned to profitability. Discussions have been held with various stakeholders regarding the IPO, with Qatar Airways potentially becoming a major shareholder.
