Overview
- Under the package, $90 million owed to the government shifts to a profit‑sharing arrangement and a new commercial loan of up to $60 million supports engine care and maintenance.
- Air T will inject A$50 million to recapitalise Rex and aims to lift the active Saab 340 fleet from roughly 30 to 44 aircraft by clearing maintenance backlogs.
- To protect the public stake, the government will retain security over all Rex aircraft and the simulator, require performance reporting, and appoint new independent Australian directors.
- Ordinary unsecured creditors, including many regional airports, are slated to receive no return, with a separate relief program for affected airports capped at $5 million.
- A creditors’ vote is set for 11 November, with the government signaling support, as industry groups urge broader assistance for other regional airlines through loans, guarantees or tax measures.