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    Qatar Airways Pursues Significant Stake in Virgin Australia

    01 de enero de 1970 - 00:00
    Qatar Airways Pursues Significant Stake in Virgin Australia
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    Qatar Airways has been in discussions to acquire up to a 20% stake in Virgin Australia. The Australian airline is currently owned by Bain Capital, a U.S. private equity firm.

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    According to the Australian Financial Review (AFR), Bain believes this stake in Virgin is worth around $665 million. However, analysts assert that this valuation is far from the market price. The initial public offering for the company, originally planned for last year, has been postponed, and a new date has yet to be set.

    Related Content: A220 vs E190-E2: Virgin Australia Debates Replacing Its Venerable Fokker 100 Fleet

    Bain purchased Virgin for $2.45 billion in 2020 after it went into voluntary administration (equivalent to Chapter 11). The Australian financial market has been experiencing a significant downturn, with the lowest number of stock launches since 2009 occurring last year. According to Bain, Virgin Australia achieved a net profit of $82.93 million in the fiscal year 2023.

    Qatar Airways has had a tumultuous relationship with Australia in recent times after the government denied the airline’s request for additional flights to the country. Even the airline’s CEO, Akbar al-Baker, described it as «very unfair [that] our request has not been granted.» The company had requested to operate 21 additional services to Sydney, Melbourne, and Brisbane, which the country rejected.

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    AUTOR
    Edgardo Gimenez Mazó
    Edgardo Gimenez Mazó
    Contando la aviación desde marzo del año 2000. Fundador y Managing Editor de Aviacionline. Base: ROS Origen: RES
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