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 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 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.

Australian travellers could face cheaper airfares after Qatar Airways' 25 per cent stake in Virgin Australia was approved federal government.

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.

Passengers and the aviation industry are expected to benefit from improved competition after a deal between Qatar Airways and Virgin Australia was approved.

The Aussie share market is likely to open lower after a broad sell-off on Wall Street. Treasurer Jim Chalmers approves Qatar's takeover of Virgin with strict conditions. Follow the day's events and insights from our business reporters on the ABC News live markets blog.