Albanese Government welcomes successful vote on Air T bid to acquire Rex
The Albanese Government welcomes the announcement that the majority of creditors have voted in support of Air T’s bid to acquire Rex at the second meeting of creditors.
Following the successful vote, Rex will be administered under a binding Deed of Company Arrangement while the remaining steps to complete the transaction are finalised.
Air T’s bid was endorsed by the Government and includes a support package comprising a loan of up to $60 million and a restructuring of existing Australian Government debt.
In exchange for this support, Air T has agreed to a range of commitments aimed at preserving essential regional aviation connectivity and improving Rex’s governance arrangements.
The Government thanks the Administrators and Rex for working throughout the administration period to keep Rex flying and maintain critical aviation links for our regional communities.
From:
https://minister.infrastructure.gov....id-acquire-rex