The federal government has this week confirmed the purchase of airline Regional Express (Rex) by a US aviation company and announced a financing agreement to ensure Rex runs are maintained.
On October 21, US corporation Air T entered into a sale and implementation deed to buy Rex after the airline entered administration last year.
The federal government has welcomed the announcement, labelling it “a positive step” towards “bringing Rex out of voluntary administration”.
The government has also revealed it has entered into an agreement with Air T to restructure Rex’s financing arrangements in connection with the acquisition.
“This will allow Rex to keep flying and maintain critical aviation links for regional communities,” federal transport minister Catherine King says.
“As the sale process led by the administrators is still underway, the Australian government will not comment further at this time.”