Australian government may nationalize regional airline Rex
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Civil Aviation Resources Network, February 12, 2025: According to Reuters, the Australian government said on Wednesday that it was willing to acquire the bankrupt regional airline Rex to ensure the continued operation of its regional flights. This will be the first time the country has nationalized an airline in three decades.
Rex entered the voluntary administration process in July last year, cutting hundreds of jobs and grounding 737 flights between major Australian cities. However, the airline continued to operate flights to and from remote areas until the government promised to ensure the operation of relevant routes until June this year.
Due to its failure to compete effectively, its debts amounted to about A$500 million, involving 4,800 creditors. Australia's domestic aviation market is jointly controlled by Qantas and Virgin Australia, and the two companies together account for 98% of the market share.
Australian Prime Minister Anthony Albanese said the government still prefers to sell the airline to a private buyer, but if no buyer takes over, the government is also willing to hold shares directly.