Australian Government Pledges $80 Million to Rex

The Australian government has pledged up to $80 million to support Regional Express Airlines (Rex) as it undergoes voluntary administration, aiming to maintain critical regional routes. This financial aid will help sustain operations and guarantee ticket sales through an extended administration period, potentially until June 30, 2025, contingent on Federal Court approval. Rex, which entered administration in July, was struggling with $500 million in debt after unsuccessfully attempting to compete in major city markets. The funding will also facilitate early access to entitlements for former employees made redundant. The government emphasizes the importance of Rex for regional communities, with Transport Minister Catherine King highlighting the airline's crucial role. Recent developments include the sale of Pel-Air Aviation to aid in repaying Rex's secured creditors.