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.

Treasurer Jim Chalmers has given the green light for Qatar Airways to buy a 25% stake in Virgin Australia, as part of a strategic alliance. The deal will shake up the Australian aviation market.

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.

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.

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

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.

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.

(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.