Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal that could shake up Australia's Qantas-dominated market.

Qatar Airways’ previous attempts to expand in Australia haven’t always gone smoothly. But will Qantas be worried regardless?

Virgin announced on Oct. 1 that Qatar aims to acquire a 25% stake in the Australian airline from owner Bain Capital. The pair are already strategic partners, and the stake would lead them to strengthen their relationship, the carriers said. The Qatar Airways interest has been previously reported.