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Queensland's $200m deal with Virgin ready to be signed off

Business

Queensland Premier Annastacia Palaszczuk has confirmed an investment deal with Virgin Australia is set to be signed off.

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Ms Palaszczuk said the deal would ensure the airline’s headquarters stay in Queensland.

Treasurer Cameron Dick said the Queensland Investment Corporation would sign an agreement with the airline’s new owners Bain Capital on Monday “to finalise our commitment to securing Virgin in Queensland”.

“It will be a 10-year agreement and that will secure the headquarters and as many jobs as we can in Queensland,” he told reporters.

He said the government has worked hard to have a second national airline based in the state, especially for regional communities so dependent on competition in aviation.

Meanwhile, the Queensland government has announced a partnership with Boeing that will see the first military aircraft to be designed, engineered and manufactured in Australia in more than 50 years.

Ms Palaszczuk said the partnership means more high-skilled jobs, local supply opportunities and defence industry stimulus as Queensland continues to recover and grow from the COVID downturn.

“The creation of additional new aerospace capability could see unmanned defence aircraft produced here by the middle of the decade, with prototype testing and certification taking place before that,” she said.

“The unmanned teaming aircraft is Boeing’s first military aircraft to be designed and developed outside the US and uses artificial intelligence to extend the capabilities of manned and unmanned platforms.”

Mr Dick said Boeing has 1700 staff in Queensland and supports 400 Queensland-based suppliers.

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