The two airlines already have had a codeshare agreement, which started in 2022, but Qatar Airways’ bid (for an undisclosed sum) to strengthen its stake in the troubled Australian carrier is part of a broader trend of Middle Eastern carriers expanding their global influence through strategic partnerships.
At the end of August Qatar also announced it was taking a 25% stake in South African carrier, Airlink. The Doha-based carrier has also secured investments in several other international airlines, including a pending acquisition of 49% of Rwanda’s RwandAir. Qatar Airways is also the largest shareholder in British Airways’ parent company IAG SA and holds stakes in both Cathay Pacific Airways, and Latam Airlines Group SA.
A statement from the Australian carrier said the investment will provide access to the critical scale and expertise of a world leading global airline with domestic competition dependent on Virgin Australia thriving through the inevitable ups and downs of aviation.
Qatar Airways Group CEO Badr Mohammed Al-Meer, said: “We believe competition in aviation is a good thing and it helps raise the bar, ultimately benefiting customers. This agreement will also help support Australian jobs, businesses and the wider economy.”