Doha: Qatar Airways is reportedly in advanced talks to acquire a minority stake in Virgin Australia, with Australian media expecting that the deal could be finalized soon.

According to the reports, the acquisition is awaiting approval from the Australian Foreign Investment Review Board, and the agreement is expected to be signed “within days.”

The discussions between Qatar Airways and Virgin Australia were first disclosed by The Australian Financial Review in June.

Virgin Australia has shown strong financial performance, reporting USD2.8 billion in revenue for the six months ending December 31, up from USD2.5 billion in the previous year.

The airline also recorded a USD129 million profit for the 2023 financial year, as per its filings with the corporate regulator.

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