The Australian Transport Safety Bureau will investigate a collision between two planes at a Melbourne airport which has left a multi-million dollar damage bill but luckily no-one injured.

Reports have been released saying a Virgin plane with 175 passengers on board en route to Maroochydore collided with a Jetstar plane as it was being manoeuvred out of the gate - the Jetstar craft was reportedly empty. The result of the low-speed bingle is estimated to be around $3 million.

The President of the Australian Licenced Aircraft Engineers Association says the Virgin craft’s left hand wing cut off the tail cone of the Jetstar plane, but it was lucky that the winglet hadn’t pierced the auxiliary power unit; the unit could have ruptured and sent fragments flying.

Other reports say the Jetstar plane had just finished landing and pulled up slightly short of its terminal gate.

Nobody was injured and an official series of events has not yet been determined, passengers were reportedly delayed for over four hours while a new plane was organised.

All of the companies involved have vowed to investigate the incident, including the Melbourne Airport, Virgin Australia and Jetstar.