Rex isn’t completely private and never will be. They will always have a level of minister, sorry I mean taxpayer, input.
With the amount of money shuffling going around, I’d call it more ‘
operated by Air T for the Australian Taxpayer’.
To safeguard this public investment, the Government will retain its security over all Rex’s aircraft and simulator. This will ensure Rex’s Saab fleet cannot be sold without the Government’s permission and will continue to service communities across regional and remote Australia.
The Government will restructure Rex’s existing debt to the Australian Government. Approximately $90 million of existing debt will be carried forward and a new commercial loan of $60 million will be provided to Rex.