Sydney-based investment fund Renaissance Partners has reportedly approached the Australian federal government directly with its offer to acquire Rex - Regional Express (ZL, Wagga Wagga). The regional carrier's administrators have dismissed the bid as "disappointing."
"Renaissance submitted its offer directly to the government on July 30, 2025, after administrators dismissed it," the fund said in a statement to the local media. "The offer also ensures Rex stays Australian-owned, is relisted on the Australian Stock Exchange (ASX), and is refreshed to have a sustainable long-term future without further public bailouts."
Neither Renaissance Partners nor the EY administrators of the airline responded to ch-aviation's requests for comment. The bid details are not public, except that the investors proposed relocating Rex's bases to Canberra and Darwin.
The airline has been in administration since July 2024, following its ill-fated attempt to expand beyond its legacy regional niche and add B737-800s. It has since abandoned these plans and refocused on its fleet of fifty-seven Saab 340Bs (of which 26 are currently parked).
In late June 2025, the Federal Court of Australia extended, on the administrators' request, the deadline for the sale of the airline to December 5, 2025. The administrators previously said they received several well-funded bids for the airline.
The federal government said that, should no private buyer be selected, it was prepared to step in to save the airline.
