US-based Air T will become the new owner of Regional Express Holdings after a second meeting of creditors voted in favour of a deed of company arrangement to keep the airline’s regional operations in the air.
Creditors met via videolink this afternoon and voted in favour of the deal, which is expected to see REX hand over ownership and control to Air T by mid-December 2025.
Rex was placed into voluntary administration in July 2024, after acquiring $50 million in debt from its largest creditor at the time, PAGAC Regulus Holdings Limited (PAG).
The Federa Government recently acquired $50 million in debt from PAG to ensure the continued operation of Rex Airlines, making it the principal secured creditor and allowing the government to…