ASX:REX Large number of potential buyers interested in struggling airline Rex [Video]

Administrators for Regional Express say “numerous” potential buyers have expressed interest in the struggling airline despite questions surrounding the state of its books as preparations begin for the sales process as early as next week.

Rex appointed EY as voluntary administrators on Tuesday and stopped all capital city flights after the consulting firm conducted a business review of the ASX-listed company in May.

Rex has traditionally been a regional airline but expanded into flying between capital cities in 2021.Credit: Andrew Taylor

EY partner Sam Freeman said he had been contacted by a “large number” of parties interested in a potential acquisition of Rex’s business via a deed of company arrangement. The voluntary administration period is expected to be five weeks.

Rex has traditionally been a regional airline, but expanded into flying between capital cities in 2021 after receiving $150 million …