Qatar Airways, the parent company of British Airways, International Airlines Group (IAG SA) $IAG.L , and Malaysia Aviation Group Bhd have announced the formation of a joint venture focused on cargo transportation. This strategic move aims to expand their networks and optimize services amidst growing uncertainties in global trade.

On Thursday, Australia approved a deal that could mark a new chapter in the country's aviation history. Qatar Airways was granted permission to acquire 25% of Virgin Australia shares, posing a significant challenge to the national carrier Qantas $QAN.AX. For the longstanding market leader, this decision potentially means heightened competition, while for passengers, it opens up the chance for greater choice and improved service quality.