- Regional Express (REX) responds to news articles about the interest in buying Cobham Aviation’s Fly-in-Fly-out (FIFO) operations
- The company has admitted it is one of the parties interested in buying the FIFO operations, however, no agreement has been reached
- Rex said it will make a further announcement if the acquisition is to proceed
- REX shares are up 0.41 per cent to close at $1.22 per share
Regional Express (REX) has responded to news articles about the interest in buying Cobham Aviation’s Fly-in-Fly-out (FIFO) operations.
The company has admitted it is one of the parties interested in buying the FIFO operations, however, no agreement has been reached.
Rex said it will make a further announcement if the acquisition is to proceed.
This news followed a pause in trade pending this announcement.
Cobham is a leading provider of FIFO services for mining and oil and gas projects across Australia. It has more an 800 people at its headquarters in Adelaide and operating bases in Queensland, Victoria, Western Australia and the Northern Territory.
Rex is the country’s largest independent regional and domestic airline.
Last month, Rex expanded regional service but dumped ‘marginal’ routes.
The company said 11 regional cities in New South Wales, Victoria and South Australia will see up to 67 per cent increase in weekday return services.
On the market, REX shares were up 0.41 per cent to close at $1.22 per share.