An entity owned and controlled by Toll Holdings Limited will pay approximately AUD47.1 million dollars (USD31.3 million) to buy aeromedical and charter operator Pel-Air Aviation (PFY, Sydney Kingsford Smith). The sale, previously flagged by ch-aviation, was confirmed in an October 24, 2024, Australian Stock Exchange filing.
Pel-Air is a sister carrier of Rex - Regional Express (ZL, Wagga Wagga) which is currently in administration and up for sale alongside other Regional Express Holdings units. Pel-Air operates a PC-24 and five Beech (twin turboprop) King Air 300Cs on behalf of the NSW Ambulance Service, and two King Air 300Cs and five 200Cs on behalf of Ambulance Victoria. Toll Holdings is a subsidiary of Japan Post.
The filing notes the sale is subject to satisfying customary conditions, including approval from Australia's Foreign Investment Review Committee.
