The administrators of Regional Express say the failed airline would have had to be wound up if the federal government had not injected $130 million into the company, leaving dozens of regional towns without crucial flights.
Documents filed with administrators show they are pessimistic about finding a buyer, with creditors likely to have liquidated the company. The money will allow more time to overhaul the airline and prepare it for sale.
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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
