Reuters reports that Qatar Airways is in talks to buy up to a 20% stake in Bain Capital-owned Virgin Australia, citing a report from the Australian Financial Review (AFR).
It notes that U.S. private equity firm Bain Capital had aimed for an A$1 billion ($665.5 million) listing of Virgin on the Australian Securities Exchange but the plan has been delayed,
The AFR reported that government-owned Qatar Airways could announce its plans regarding the stake buy as early as next week.
Bain Capital and Qatar Airways declined to comment to Reuters or the AFR.
The Australian government recently blocked Qatar Airways from increasing its services to Australia.
Qatar Airways was this year voted Airline of the Year by Airlineratings.com and Skytrax.
Virgin Australia and Qatar Airways have a code-share alliance, despite Qatar Airways being in the oneworld alliance with Qantas,
Separately Qantas has a special partnership with Emirates, Qatar’s arch rival.
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