After Ansett collapsed, a group of businessmen saw an opportunity to revive the regional aviation part of the business. They believed there were sound business reasons for this initiative as:
A consortium of individuals comprising Singaporean investors and a collection of Australian private investors eventually reached an agreement with the two sets of administrators, the government, the unions and the staff to purchase the Hazelton and Kendell turbo-prop passenger airline businesses, leading to the formation of Regional Express, more affectionately known as Rex. Rex’s inaugural flight took place in August 2002, from Wagga Wagga to Sydney. In November 2005, Regional Express Holdings Limited made its stock market debut and was listed on the Australian Securities Exchange. In the years since, Rex has continued to navigate headwinds to remain sustainable and continue operating vital air corridors between regional and metropolitan centres. In June 2020, Rex announced plans for the airline to expand its wings to operate domestic routes. Domestic operations launched on 1 March 2021.