Almost two months after Regional Express called in administrators, the regional airline’s empire is being broken up and sold off. First on the block is its disparate portfolio of property which would be of little interest to others in the industry, the players most likely to end up with the operating business and its fleet of Saab 340 aircraft.

As The Australian Financial Review has reported, Rex’s collapse was presaged by a bitter boardroom stoush which pitted the airline’s chairman, former Howard government minister John Sharp, against its biggest shareholder, businessman Lim Kim Hai.

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