Airport creditors unsure of getting any money back after Rex Airlines sale
Australia’s Rex Airlines confirmed its new owner which will take it out of voluntary administration but creditors are still unsure if they will see a cent back.
The Administrator confirmed the deal with US based aviation company T Air.
Air T expects to conclude the transaction by the end of the financial year.
“Air T will work to ensure Rex will continue to operate on a sustainable basis, thereby providing critical services to regional Australians,” it said.
Rex had been in voluntary administration since last year.
“We have high confidence in the quality of Rex Regional’s management team and employees,” Air T CEO Nick Swenson said
Many of the creditors are local authority owned airports across regional Australia.
“There are 5,000 creditors, there is $500 million worth of debt, and we are a minnow in an ocean of unsecured creditors,” creditor Albany City Council said.
“I don’t think there’s any chance would get a return at all.”
The deal was welcomed by the Australian Airports Association and the federal government.
The sale will enable Rex to keep serving small outback communities.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive