Overview
- Air T confirmed it is buying Rex and said closing is targeted by the end of 2025 subject to creditor, court and regulatory approvals, alongside a government-agreed financing restructure.
- The buyer pledged to fund an engine renewal program, restore grounded Saab 340s, continue Rex’s regional airline business and keep its workforce, noting about half of Rex routes face no competition.
- Federal Transport Minister Catherine King said Rex would likely not be operating without government support, citing debt purchases, cash injections, booking guarantees and preserved Sydney Airport slots.
- The minister said due diligence supports Air T’s plan to return aircraft to service and indicated the government has sought assurances on maintaining the network, preserving jobs and retaining management.
- Industry bodies welcomed the announcement as certainty for regional communities, while the Transport Workers’ Union backed the deal but pressed for clear commitments on routes, jobs and entitlements amid an aging 57-strong Saab fleet with many aircraft long parked.