Regional Express Holdings Limited (REX.AX) operates as Australia's largest independent regional airline, providing scheduled passenger and freight air transportation services to over 50 destinations across New South Wales, Victoria, South Australia, Tasmania, Queensland, and Western Australia; it offers regular public transport on monopoly routes comprising approximately 50% of its network, fly-in/fly-out charter services, airfreight and corporate jet charters, aeromedical transport including contracts with Ambulance Victoria, and pilot training through the Australian Airline Pilot Academy for students and other carriers. Founded in 2002 through the merger of Kendall Airlines and Hazelton Airlines following the Ansett Group collapse, the company is headquartered in Mascot, New South Wales, and maintains key subsidiaries such as Regional Express Pty Ltd, Rex Freight & Charter Pty Ltd, Pel-Air Aviation Pty Ltd, and Rex Airlines Pty Ltd. REX employs around 1,450 staff and generated total revenue of approximately A$649 million in fiscal 2023, primarily from its domestic airlines segment utilizing a fleet centered on Saab 340 aircraft. In a major recent development, the company entered voluntary administration in July 2024 amid A$50 million in debt; creditors approved a Deed of Company Arrangement in November 2025 with U.S.-based Air T, Inc. (NASDAQ:AIRT), which entered a Sale and Implementation Deed in October 2025 to acquire REX and its subsidiaries, subject to Federal Court of Australia approval expected by year-end, including Australian government-backed financing restructuring, engine renewal funding for the Saab 340 fleet, and commitments to sustain regional operations and workforce employment.