The Australian Government is taking decisive action to ensure the continuity of essential regional air services following Rex Airlines’ entry into voluntary administration in 2024.
In a significant move, the government has acquired $50 million of debt from PAGAC Regulus Holdings Limited (PAG). PAX is currently Rex’s largest creditor.
This acquisition aims to prevent the worst-case scenario – the liquidation of the regional airline. The government financial support measure aims to safeguard the vital connectivity of Australia’s regional and remote communities.
Latest Debt Acquisition by Albanese Government
By acquiring the debt, the government becomes the principal secured creditor. As such, it can actively…
