The federal government is set to replace the private equity giant that bankrolled Regional Express as the company’s biggest creditor, a move designed to give it control over the future of the collapsed airline.
The government has agreed to the deal despite two executives of PAG Asia Capital who were on the airline’s board being accused by the corporate regulator of misleading investors about the company’s finances last year.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
