This was published 7 months ago
A buyer has been found for Regional Express Airlines, which collapsed into administration 15 months ago.
Sources with knowledge of the deal who are not authorised to speak publicly said Nasdaq-listed US aviation company Air T had agreed to buy Rex. The terms of the deal could be released as early as this week, the sources said.
Any purchase transaction will be subject to a vote of Rex creditors.
Rex, which serves Australia’s regional markets, was placed in voluntary administration in 2024. E&Y were named as administrators while the Albanese government sought a buyer.
Rex had pursued expansion from regional routes into the major cities, which brought it into competition with Qantas and Virgin. In the process, its debts mounted and operational difficulties increased.
Rex operates 57 planes, including 22 Saab 340B and 35 Saab 340B Plus aircraft. Part of Rex’s difficulties revolved around its ageing fleet, which is, nonetheless, an ideal size for operating in regional airports.
Air T operates various…