The administrators of Australian Regional Express (Rex) have reached an agreement with US-based holding company Air T to acquire the airline.<\/p>\n
Air T has entered into a Sale and Acceptance deed, and expects to close the acquisition of Rex by year-end if creditor and other approvals are obtained.<\/p>\n
READ:\u00a0Rex administrators given sale extension<\/a><\/strong><\/p>\n The American firm has been working closely with the Administrators and the Australian Government, Rex\u2019s secured lender, to develop a solution that best serves the interests of all stakeholders. To support the implementation of the acquisition, Air T and the Commonwealth of Australia have entered into an agreement pursuant to which Rex\u2019s financing arrangements will be restructured in connection with the acquisition.<\/p>\n The proposed acquisition contemplates a continuation and growth of Rex\u2019s regional airline business and continuing employment for its workforce.<\/p>\n Rex plays an essential role in connecting regional Australian communities. Approximately 50% of Rex\u2019s routes are not serviced by any other airline. Air T likes the Rex Saab 340 programme and will be funding Rex\u2019s engine renewal program and returning its fleet to service.<\/p>\n The transaction remains subject to certain other approvals, including approval by Rex\u2019s creditors and the Federal Court of Australia.<\/p>\n \u00a0<\/p>\n The post Rex to be acquired by Air T<\/a> appeared first on Aviation Business News<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The administrators of Australian Regional Express (Rex) have reached an agreement with US-based holding company Air T to acquire the airline. Air T has entered into a Sale and Acceptance deed, and expects to close the acquisition of Rex by year-end if creditor and other approvals are obtained. READ:\u00a0Rex administrators given sale extension The American […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-972","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/posts\/972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/comments?post=972"}],"version-history":[{"count":0,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/posts\/972\/revisions"}],"wp:attachment":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/media?parent=972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/categories?post=972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/tags?post=972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}