Australian airline Regional Express, or Rex, is set to be saved as a global company is reportedly ready to take over the business.
The Australian Financial Review has reported that US aviation company Air T will take over the regional airline.
The news comes after Rex entered voluntary administration in July last year.
However, the airline has continued running regional flights due to the federal government providing $130 million to keep the company operating.
Reports suggest that Air T has reached an agreement to buy Rex and pull it out of administration, with neither business yet to formally announce the deal.