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Albanese Government Acquires $50 Million Debt Stake in Struggling Rex Airlines

The government will also seek to have a say on the future of the airline.
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Albanese Government Acquires $50 Million Debt Stake in Struggling Rex Airlines
Rex Airlines Boeing 737 planes lay idle on the tarmac at Melbourne's Tullamarine Airport on July 31, 2024. William West/AFP via Getty Images
Monica O’Shea
Updated:
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The Albanese Labor government will acquire $50 million (US$35 million) worth of debt from Rex Airline’s largest creditor PAGAC Regulus Holdings Limited (PAG).

The struggling regional carrier Rex entered voluntary administration in July 2024, with over $500 million in debt—spurring concerns about the future of regional travel in Australia.

Monica O’Shea
Monica O’Shea
Author
Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]