International airfare drop on horizon amid major aviation investment

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Catherine King Nouvelles

Aviation,Qatar Airways,Virgin Australia

International airfares could be set to drop as Qatar Airways eyes a stake of up to 20 per cent in private equity-owned Virgin Australia.

A deal could be struck as soon as next week, however final approval from the Foreign Investment Review Board would be needed before the deal can go ahead, according to sources in the Australian Financial Review.

"This would certainly help their case - investing in Virgin Australia - and they may get the increased services and they should get the increased services they wanted, but it also sets up a fascinating, competition with its rival Emirates," he said. By acquiring a stake in Virgin Australia, it could be more likely that Qatar Airways will achieve additional capacity in Australia. Picture: NCA NewsWire / Nicholas Eagar.

The controversial decision from Transport Minister Catherine King sparked outrage as the government caughtMs King controversially knocked back Qatar Airways' application for additional flights in 2023. Picture: NCA NewsWire / Martin Ollman

 

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