The future of Australia’s third-largest airline, Regional Express Airlines, or Rex, now depends on a bid from a little-known US outfit, Air T Inc. It’s a North Carolina aviation conglomerate better known for aircraft maintenance and cargo services than running passenger airlines.
But while Air T runs cargo flights for FedEx and charter flights, it’s unclear if it has the financial stomach or capacity to finance the fleet renewal — which would cost as much as $400 million — needed for Rex in the coming year, absent an innovative financing plan.