Australian government buys $50M in debt from Rex Airlines to keep regional flights operating.

The Australian federal government has purchased $50 million in debt from struggling regional airline Rex to keep its services running and maintain vital medical and freight connections for remote communities. This follows an $80 million loan provided late last year to support regional routes and cover worker entitlements. Rex entered administration in mid-2024 with about $500 million in debts. The government's move makes it Rex's main creditor and seeks voting rights on the committee of inspection. The Australian Securities and Investments Commission is also pursuing legal action against Rex and its directors for alleged corporate governance failures.

2 months ago
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