Rex looks set to be saved from administration, with US aviation company Air T reportedly landing a deal to take over the beleaguered regional airline.
It has continued flying regional routes after being bailed out by the federal government to the tune of $130 million, but now looks set to exit administration.
Both the Australian Financial Review and Sydney Morning Herald have reported the Nasdaq-listed Air T has reached an agreement to buy Rex, 15 months after it collapsed.
”It’s relatively small, with a total value of about $100 million,” 9News finance editor Chris Kohler said.
The takeover is yet to be formally announced by either Air T or Rex.
“We don’t have the specifics of…