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Australia’s Regional Express to bulk up charter operations after acquisition of Cobham Aviation
July 18th 2022
Regional Express (Rex) intends to acquire the charter, freight and fly-in fly-out (FIFO) arm of Cobham Aviation Services Australia, National Jet Express (NJE), for A$48 million (US$32.5 million). Read More » The purchase will be settled with cash reserves held by Rex and the drawing down of a convertible note facility with PAG, an investor that supported the launch of jet operations in 2021. “FIFO services are expected to experience strong growth in Australia. This acquisition positions the Rex group for participation in this booming sector,” Rex executive chairman, Lim Kim Hai, said. “With this acquisition, Rex will have a FIFO arm that is simply unparalleled in Australia. NJE has a completely modern fleet of eight Bombardier Q400 turboprops and six Embraer E190 jets for FIFO work. Both aircraft types are fuel efficient, have enhanced operational reliability and low carbon emissions compared with the predominantly 40-year-old Fokker 100s used by other major FIFO operators.” The Australian government's Foreign Investment Review Board must approve the sale.
