Qatar Airways in advanced discussions to acquire a minority stake in Virgin Australia

According to Australian media, Qatar Airways is apparently in advanced discussions to buy a minority investment in Virgin Australia. The deal is anticipated to be completed shortly. The acquisition is reportedly pending approval from the Australian Foreign Investment Review Board, and a signature on the agreement is anticipated "within days."

The Australian Financial Review initially revealed the talks between Virgin Australia and Qatar Airways in June. 

Virgin Australia reported USD2.8 billion in sales for the six months ended December 31, up from USD2.5 billion in the same period last year. This represents a great financial performance for the company. Additionally, according to its filings with the corporate authority, the airline reported a USD129 million profit for the fiscal year 2023.