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Toll Holdings acquires Rex's air ambulance subsidiary
October 28th 2024
Australian airline group, Rex, said late last week it is selling its Pel-Air air ambulance subsidiary to Toll Holdings for A$47 million (US$31 million). Read More » Subject to Foreign Investment Review Board approval and other conditions, the transaction is expected to close by year-end. “The proceeds of the sale will be used to repay secured debt", a Rex regulatory filing said. The airline has continued to operate its regional network after it entered voluntary administration in late July and appointed EY as administrator.
