Overview
- Administrators signed a Sale and Implementation Deed with US-based Air T to recapitalise Rex and end its voluntary administration, pending required approvals.
- No return to shareholders is anticipated, and unsecured creditors owed about A$500 million are likely to receive little or nothing, according to EY.
- The federal government reached an agreement with Air T to restructure Rex’s financing to keep regional services operating, with the fate of roughly A$130 million in public support unresolved.
- Air T highlights access to Saab 340 parts and maintenance capacity, including spares from its Kingman facility, as central to sustaining Rex’s 57‑aircraft turboprop fleet.
- A creditors’ meeting and court approval are still to come, with Air T targeting completion by the end of 2025 as unions and local councils seek assurances on routes, jobs and repayments.