Local News

Rex to Raise $30 Million for Domestic Operations

rex airlines

Regional Express Airlines have announced the board’s approval of plans to raise $30 million dollars for domestic operations.

The Board approved the initiative to raise a minimum of $30 Million, which the Board believes will be all that is needed for the launch of limited domestic operations.

Discussions with interested parties including lessors and private equity funds have not been finalised and are set to reconvene within three weeks to decide on the structure of the fundraising.

Rex’s Deputy Chairman, John Sharp, said, “Rex’s domestic operations will be priced at affordable levels but will also include baggage allowance, meals on board and pre-assigned seating.