Regional Express (Rex) is one step closer to servicing Australia’s lucrative “golden triangle” market after signing a deal with an Asian firm for $150 million to launch its major city jet operations starting in March 2021.
Rex and PAG Asia Capital (PAG) are in advanced negotiations that could see PAG own 23 percent of Rex’s shares if the initial $50 million draw down is converted in December this year, and 48 percent if the total $150 million is drawn down and converted to shares.
