Air T, Inc. successfully closed the acquisition of Regional Express Holdings Limited (Rex), Australia's leading regional airline.
The acquisition includes a $50 million AUD credit facility and a $60 million AUD loan to support Rex's fleet and operations.
This collaborative financing structure aims to ensure the long-term success of Rex and its service to regional Australians.
Comprehensive Acquisition
Air T, Inc. acquired 100% of Rex, emphasizing the commitment to strengthening regional aviation in Australia.
Financial Support
Provided a $50 million AUD credit facility funded by an investor partner to expand Rex's fleet to 45 aircraft over the next two years.
Collaborative Financing
Rex will access an additional $60 million AUD loan from the Commonwealth of Australia to overhaul its fleet and support operations.
- The acquisition signifies a new chapter for Rex and its regional communities in Australia.
- The financing arrangement demonstrates the commitment to sustainable and reliable air service, ensuring Rex's long-term viability.
- Stakeholders, including the Commonwealth of Australia, play a crucial role in supporting the revitalization of Rex under Air T's ownership.
The successful acquisition and financing structure position Air T, Inc. and Rex for continued growth and service to regional Australians, reflecting a strategic investment in essential aviation businesses.