A Nasdaq-listed American company has reportedly agreed to acquire the carrier.
Rex Airlines has found a buyer, according to reports in Nine Publishing mastheads the Australian Financial Review and The Sydney Morning Herald.
United States-based holding company Air T is the business named as agreeing to purchase the embattled carrier, as foreshadowed by Travel Daily last month.
The airline collapsed 15 months ago, but reports indicate the deal will be signed today, with terms of the deal to be released as soon as this week.
Air T operates various aviation businesses in the US, including FedEx flights and charter services, and crucially also has access to the parts needed for Rex’s decades-old Saab 340 aircraft.
The Australian Government previously said it would purchase Rex if a buyer could not be found, to ensure the continuation of its crucial rural routes.
More details in tomorrow’s issue of Travel Daily.