US-based holding company Air T has entered into a sale and implementation deed and a reconstruction deed with the court-appointed administrators of Rex, a major Australian regional airline.
Under the proposed deal, a wholly-owned subsidiary of Air T would acquire 100% of Rex’s outstanding capital stock, subject to creditor, court and other regulatory approvals.
If successfully completed, Air T expects the transaction to close by the end of 2025.
The plans were detailed in a Form 8-K filing submitted today to the US Securities and Exchange Commission (SEC).
In the filing, Air T cautions that the deal remains subject to several conditions and that there is “no assurance that the transaction will occur or occur on the timing or terms presently expected”.
Air T will provide further disclosures about the deal once the required approvals are obtained.
The acquisition of Rex would give Air T an entry into the Australian regional aviation market, expanding its footprint beyond the US domestic landscape.
Rex is well-known in Australia for its extensive regional network, and the move could offer Air T access to new routes, fleets and customer segments.