Regional Express (ASX:REX) confirmed that it secured funding of up to AU$80 million from the Australian Government to maintain its regional routes during a proposed extension of the voluntary administration process, according to a Wednesday filing with the Australian bourse.
The company's administrators plan to apply to extend the voluntary administration period to June 30, 2025, the filing said.
Also, the government will grant early access to the Fair Entitlements Guarantee to former employees of the company while it is in administration, according to the filing.
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