The Australian government on Thursday approved Qatar Airways' move to buy a 25% stake in Virgin Australia from U.S. private equity firm Bain Capital saying the deal would deliver more international flights and support jobs.

Qatar Airways Ltd.’s acquisition of a 25% stake in Virgin Australia can proceed subject to enforceable conditions, Australian Treasurer Jim Chalmers said, adding the deal would improve competition in the country’s highly-concentrated aviation sector.

The deal will open new routes for travellers and is expected to provide a long-term pathway for Virgin Australia to operate its own long-haul flights.

Australia on Thursday approved Qatar Airways buying a 25% stake in Virgin Australia from U.S. private equity firm Bain Capital, posing a challenge for national flag carrier Qantas that has long dominated Australian air routes.

Qatar's minority 25 per cent stake in Virgin Australia has been approved by the Federal Government with VA long-haul flights to Doha starting on 1 June.

Move will inject foreign competition into Australia's Qantas-dominated aviation sector. Read more at straitstimes.com.

Australia has approved Qatar Airways' acquisition of a 25% stake in Virgin Australia from Bain Capital. This strategic move is set to intensify competition with Qantas, Australia's dominant airline. The decision aligns with national interest and comes with conditions ensuring Australian representation and customer data protection.

Australians will benefit from stronger competition in the aviation sector, the Treasurer has said, as he approved Qatar Airways acquiring a 25 per cent stake in Virgin Australia. The approval will mean 28 new weekly return services between Doha and Perth, Brisbane, Sydney and Melbourne.

Qatar Airways has clinched regulatory approval for a 25% investment in Virgin Australia, paving the way for the Australian carrier to eventually restart long-haul operations.

The eleventh hour approval is a huge relief to the airlines and Virgin’s owner Bain, who needed the federal government’s blessing before an election is called.

(Reuters) - Australia's Treasurer Jim Chalmers approved Qatar Airways' proposal to buy a 25% stake in Virgin Australia, the Australian Financial Review reported early on Thursday.