Air T Acquires Australian Regional Airline Rex
Air T, Inc. has successfully closed its acquisition of Regional Express Holdings Limited (Rex), Australia's largest regional airline. The company is providing significant financing to support Rex's operations and fleet expansion.
MINNEAPOLIS, MN – Air T, Inc. announced on December 19, 2025, the completion of its acquisition of Regional Express Holdings Limited (Rex), solidifying its ownership of the Australian regional airline. This transaction marks a new chapter for the airline and the communities it serves across Australia.
The acquisition is supported by a comprehensive financing package. Air T is providing a AUD $50 million credit facility, intended to help Rex return approximately 14 of its current fleet of 31 aircraft to service over the next two years, bringing the total operational fleet to 45. Additionally, the Commonwealth of Australia will continue as a secured creditor and has made available an undrawn loan of AUD $60 million to support fleet overhauls and general operations.
"We are excited to welcome Rex to Air T and to continue the important work of strengthening regional aviation in Australia," said Nick Swenson, Chief Executive Officer of Air T, Inc. "Rex serves communities that depend on reliable air service, and we are committed to ensuring the airline operates on a sustainable basis for the long term."
Neville Howell, Chief Executive Officer of Regional Express, stated that the acquisition resolves a challenging period and initiates a revitalized phase. He emphasized Rex's ongoing commitment to connecting Australians and serving the regional communities that form its foundation.
Air T, Inc., founded in 1980, operates a portfolio of businesses in segments including overnight air cargo, ground equipment sales, and commercial jet engines. Rex, established in 2002, is known as Australia's largest independent regional airline.