Qatar Airways plans to acquire a 25% stake in Virgin Australia, pending regulatory approval. This deal could see Qatar flying to Sydney, Melbourne, Brisbane and Perth under a 'wet-lease' agreement with Virgin as soon as mid-2025.
Virgin Australia will soon be partly owned by Qatar Airways and begin flying to Doha as soon as mid-2025, pending regulatory approvals.
Under a “wet lease”, one airline loans aircraft, crew and maintenance to another carrier. The arrangement would require approval from the Australian Competition and Consumer Commission. Qantas Airways – which has a code share partnership with rivals Emirates and Etihad – is the only known party to have objected to the additional bilateral air rights. The saga led to scrutiny over the relationship between Qantas and the government, which culminated in a parliamentary inquiry into bilateral air rights last September.Virgin said the arrangement would allow it to “assess the longer-term merits and viability” of re-entering the long-haul market.
“This proposed investment is subject to regulatory approval. We do not take this for granted and have made submissions outlining the benefits of the transaction for Australian aviation, Australian travellers and the Australian economy,” she said.Virgin is Australia’s second-biggest airline and only rival to Qantas Airways on major domestic routes. It controls about 40 per cent of the domestic market, with more than 60 per cent flown by Qantas and its budget carrier Jetstar.
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