Rex Airlines, a prominent regional carrier in Australia, has successfully utilized the proceeds from the recent sale of its non-core assets to address its financial obligations comprehensively. The airline confirmed that it has used these funds to fully repay the debt owed to PAGAC Regulus Holding, a Singapore-based investment firm.
Rex (Australia) has completed the sale of Air Partner’s (UK) 50% shareholding in National Jet Express (NJE) to entities controlled by the remaining shareholders of NJE. The proceeds from this transaction will be utilized by Rex to repay secured debt, contributing to its financial stabilization.
Regional Express (Rex), an Australian airline, has been granted a temporary reprieve in legal proceedings brought by U.S.-based aviation company Jet Midwest. The dispute centers on four Saab 340 aircraft, which Jet Midwest claims were allegedly taken without proper authorization. Jet Midwest is seeking $7.2 million in damages, citing financial losses associated with the aircraft’s…
