Regional airline Rex has a US buyer, the announcement on Tuesday night coming more than a year after the airline that operates numerous services in South Australia entered voluntary administration.
Air T — a Nasdaq-listed US aviation business that runs cargo services, an aircraft trading business and sells parts – has entered a sale and implementation deed with Rex administrator EY.
“The sale and implementation deed is subject to customary conditions precedent for a transaction of this type including receipt of regulatory approvals and approval by creditors,” the administrators’ announcement said.
The federal government has been propping up the airline to ensure regional and remote communities remain serviced, buying $50 million…