Air T, Inc. has completed the acquisition of Regional Express Holdings Limited, Australia’s largest independent regional airline, with a focus on enhancing operations and fleet capabilities.

Target Company Overview

Air T, Inc. (NASDAQ: AIRT) has successfully completed its acquisition of Regional Express Holdings Limited (Rex), the largest independent regional airline in Australia, as of December 18, 2025. This strategic move aims to enhance Rex's operations and strengthen the regional communities it serves across Australia. Established in 2002, Rex operates over 1,000 flights weekly and boasts the world's largest fleet of Saab 340 aircraft. In addition to the airline services, Rex is involved in professional pilot training through its Australian Airline Pilot Academy campuses located in Wagga Wagga, NSW, and Ballarat, VIC, and it also operates a propeller maintenance facility in Dingley, VIC.

Industry Overview in Australia

The Australian aviation industry is critical for connecting regional and remote communities due to the country's vast geographical landscape. With a significant focus on regional air transport, the industry faces both opportunities and challenges. Recent trends indicate a growing demand for regional air services as communities seek reliable transport options. The Australian government recognizes the importance of maintaining robust regional air connectivity, further supported by financial initiatives that encourage airline operations in less accessible areas.

In recent years, the industry has seen fluctuations in passenger demand and operational pressures. Although the pandemic posed challenges, Australia's recovery efforts, bolstered by increasing dom