Qatar Airways has formally received approval to take a 25% stake in Virgin Australia.

Australia’s Foreign Investment Review Board has approved the deal.

It comes a week after a draft decision by regulator the Australian Competition and Consumer Commission to authorise an airline alliance between the two carriers.

Virgin’s existing shareholders including Bain Capital and Virgin Group will retain stakes in the airline.

The tie-up will see an eventual return to long haul flights by Virgin.

It aims to launch Doha flights from Sydney, Brisbane, and Perth starting this summer.

These will be initially be flown by Qatar Airways on wet-leased aircraft.

Virgin Australia customers will get streamlined access to Qatar Airways’ global network via Doha.

Additionally, there will be expanded rewards and redemption between the two airlines loyalty programmes.

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