Air T has several businesses and assets, primarily in the aviation space, covering areas including air cargo, ground support equipment, aircraft, engines and parts and digital solutions.
The sale of Rex is conditional on several factors, including regulatory approval and approval from the airline’s creditors after Rex went into voluntary administration in July 2024.
According to a media release from the buyer, “Air T has been working closely with the administrators and the Australian Government, Rex’s secured lender, to develop a solution that best serves the interests of all stakeholders”.
“Air T will work to ensure Rex will continue to operate on a sustainable basis, thereby providing critical services to regional Australians,” said the media release.
“Air T believes it was selected to acquire the company in part because of its long-term investment horizon, experience in regional aircraft and commitment to stabilising and growing Rex.”
Australia’s federal government confirmed it had entered into an agreement with Air T to restructure financing arrangements for Rex.
Air T says it expects to complete its acquisition of Rex by the end of the year and expects to grow the airline.
Rex went into administration after expanding into capital city routes. While in administration, its regional services have continued to operate, supported by the Australian Government.
Around 50 per cent of the routes Rex flies aren’t serviced by other airlines.
