Labor has acquired $50 million of debt from Regional Express’ largest creditor PAG in a bid to secure ongoing flights for regional and remote communities after the airline went into administration last year.
after it suspended trading on the ASX late July 2024.to keep the regional routes operating until June 2025.
Labor has taken on $50m of debt from Rex's largest creditor as the government looks to ensure aviation services continue for Aussies in regional areas. Picture: Tim Hunter/News Corp “Obviously we want to see regional communities remain connected through aviation services and we’ll be supporting … measures that the government has,” Ms McKenzie said.
The Transport Workers’ Union welcomed Labor’s move but urged the government to make a long term investment into the carrier as struggles in the tumultuous aviation industry. PAG in a statement has thanked the government for purchasing its debt as it propped up the embattled airline while it suffered financial woes.
Rex Katy Gallagher Regional Express PAG Aviation Bridget Mckenzie
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