Australia’s Rex to finalize National Jet Express takeover in September
Australia’s largest regional air carrier Regional Express, also known as Rex, has received regulatory approval from the Foreign Investment Review Board (FIRB), allowing the airline to proceed with the proposed takeover of National Jet Express.
According to the market update released by Rex on September 16, 2022, the recent FIRB approval will allow the airline to complete the final steps in the charter air carrier’s National Jet Express acquisition on September 30, 2022.
“The Foreign Investment Review Board has issued a No Objection Notification with regards to Rex’s intention to acquire 100% of National Jet Express, the regional services arm of Cobham, focusing on Fly-In-Fly-Out (FIFO) activities,” was written in the statement.
The recent approval follows another ‘no objection’ notice, which was granted to the regional air carrier by the Australian Consumer and Competition Commission in July 2022.
Rex, which currently operates a fleet consisting of 61 Saab 340 twin-engine turboprops and seven Boeing 737-800NG narrow-body jets, showed its intentions for the buyout of National Jet Express for more than $32 million in July 2022. The successful takeover would expand Rex’s fleet with additional six Embraer 190 regional jets as well as eight De Havilland Dash 8-400s.
The merger could also help Rex to strike its roots in FIFO charter flight services across remote areas of Australia.
Pilot sues Southwest Airlines after captain exposed himself mid-flight: AP
A Southwest Airlines pilot is suing the airline, her union and an ex-colleague after the co-worker locked the cockpit do...
Hong Kong to give away 500,000 air tickets to lure tourists back to the island
Hong Kong is giving away 500,000 free airline tickets in an attempt to lure tourists back to the island after more than...
Pilots strike forces Eurowings Germany to cancel hundreds of flights
Eurowings Germany is facing operational challenges after one-day pilots strike caused the budget airline to cancel hundr...
Six months detention: Canadian flight crew still detained in Dominican Republic
Pivot Airlines crew members are still detained in the Dominican Republic six months after finding and reporting drugs on...