MINNEAPOLIS, MN – December 18, 2025 – Air T, Inc. (NASDAQ: AIRT) is pleased to announce the successful closing of its acquisition of Regional Express Holdings Limited (Rex), Australia’s leading regional airline. Air T looks forward to beginning a new chapter for Rex and the regional communities it serves across Australia.
The transaction includes a comprehensive financing structure designed to support Rex’s operations and future growth:
- Air T is providing a $50 million AUD credit facility that is funded by one of our investor partners. We anticipate that Rex will use this facility to bring its fleet fully back into service, from approximately 31 flyers currently to 45 flyers within the next two years.
- The Commonwealth of Australia will continue to be a secured creditor of Rex.
- Rex will have access to an additional undrawn $60 million AUD loan from the Commonwealth of Australia to support the overhaul of its current fleet of Saab 340s and general operations.
This financing arrangement reflects the collaborative approach taken by Air T, the Commonwealth of Australia, and other stakeholders to assure Rex thrives for the long-term and continues to service regional Australians. A strong Rex is good for Australia.