Regional Express Holdings
Encyclopedia
Regional Express Holdings is the parent company
of a number of airline
and associated companies in Australia
. It is based in Mascot, New South Wales
(a suburb of Sydney
) and is a public listed company on the Australian Stock Exchange
.
. A group of Singaporean investors and a collection of Australian private investors saw an opportunity to purchase the Hazelton and Kendell businesses, which were profitable entities before they were taken over by Ansett. The investors formed a company called Australiawide Airlines, which was officially incorporated on 12 February 2002. The assets of the two airlines were purchased by Australiawide and merged together to form the airline Regional Express
, known as Rex. in 2005 the owners of Australiawide decided to offer a percentage of their shares (35 million out of 115 million shares, or 30.43%) in the company to the public in a float. At the same time an agreement was reached with the owners of Pel-Air
that, subject to certain conditions, Australiawide would purchase Pel-Air.
As part of the public float process, Australiawide Airlines' name was changed to Regional Express Holdings. Regional Express Holdings is the owner of a number of other companies. The main asset is Regional Express Pty. Ltd., which owns another airline - Dubbo-based Air Link. Another company is Rex Freight and Charter Pty. Ltd., which is the company that owns Pel-Air. The third subsidiary company is Rex Investment Holdings Pty. Ltd., which as of September 2007 is dormant.
Parent company
A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company...
of a number of airline
Airline
An airline provides air transport services for traveling passengers and freight. Airlines lease or own their aircraft with which to supply these services and may form partnerships or alliances with other airlines for mutual benefit...
and associated companies in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. It is based in Mascot, New South Wales
Mascot, New South Wales
Mascot is a suburb in south-eastern Sydney, in the state of New South Wales, Australia. Mascot is located 7 kilometres south of the Sydney central business district and is the administrative centre of the City of Botany Bay...
(a suburb of Sydney
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
) and is a public listed company on the Australian Stock Exchange
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
.
Corporate Structure and History
Regional Express Holdings had its origins in the aftermath of the collapse in 2001 of Ansett Airlines, which was the parent company of Kendell Airlines and Hazelton AirlinesHazelton Airlines
Hazelton Air Services Pty Limited, trading as Hazelton Airlines, was an Australian regional airline which operated until 2001. It was established as an independent airline but by the end of its existence had become a subsidiary of Ansett Australia....
. A group of Singaporean investors and a collection of Australian private investors saw an opportunity to purchase the Hazelton and Kendell businesses, which were profitable entities before they were taken over by Ansett. The investors formed a company called Australiawide Airlines, which was officially incorporated on 12 February 2002. The assets of the two airlines were purchased by Australiawide and merged together to form the airline Regional Express
Regional Express Airlines
Regional Express Pty Ltd is an airline based in Wagga Wagga, New South Wales, Australia. It operates scheduled regional services. It is Australia's largest regional airline outside the Qantas group of companies and serves New South Wales, South Australia, Victoria, North Queensland and Tasmania...
, known as Rex. in 2005 the owners of Australiawide decided to offer a percentage of their shares (35 million out of 115 million shares, or 30.43%) in the company to the public in a float. At the same time an agreement was reached with the owners of Pel-Air
Pel-Air
Pel-Air Aviation Pty Ltd is an airline based in Mascot, Sydney, Australia. It is a wholly owned subsidiary of Regional Express Holdings, which also owns Australian airlines Regional Express Airlines and Air Link....
that, subject to certain conditions, Australiawide would purchase Pel-Air.
As part of the public float process, Australiawide Airlines' name was changed to Regional Express Holdings. Regional Express Holdings is the owner of a number of other companies. The main asset is Regional Express Pty. Ltd., which owns another airline - Dubbo-based Air Link. Another company is Rex Freight and Charter Pty. Ltd., which is the company that owns Pel-Air. The third subsidiary company is Rex Investment Holdings Pty. Ltd., which as of September 2007 is dormant.