Virgin Overtakes Qantas as Australia’s Largest Domestic Airline

Virgin Australia overtook Qantas Airways Ltd. to become Australia’s largest and most reliable airline at the end of last year, sending a warning to the marquee carrier and supporting a potential return to the stock market.

Bain Capital-owned Virgin Australia garnered a domestic market share of 35% as of December, surpassing Qantas’ 34.6%, the competition watchdog said in a report Tuesday. It’s the first time Qantas has been pushed from the top spot since early 2022. Jetstar, the low-cost airline brand owned by Qantas, had 29% of the market.