Regional airline Rex has a US buyer, administrators have confirmed.

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The announcement on Tuesday evening comes more than a year after the airline entered voluntary administration.

Air T - which operates a number of aviation businesses in the US - has entered a sale and implementation deed with EY, the administrators of Rex.

"The sale and implementation deed is subject to customary conditions precedent for a transaction of this type including receipt of regulatory approvals and approval by creditors," the administrators' announcement said.

The

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