The federal government continues to throw regional carrier Rex Airlines a lifeline, after taking on its $50 million debt from its largest creditor PAGAC Regulus Holdings Limited.
Rex has been fighting for commercial survival after entering voluntary administration on June 30 last year, with Ernst and Young (EY) appointed administrators.
Transport Minister Catherine King and Finance Minister Katy Gallagher today announced the government would acquire some of Rex’s debt to prevent liquidation, which they said would harm regional and remote communities that rely on the carrier.
“By acquiring the debt, the government will become the…
