The Australian government is ready to nationalize the country’s third-largest airline, provided that bankruptcy management experts cannot find a buyer for the troubled Australian airline.

Regional Express entered voluntary administration in July last year. The Australian government said it would not bid for Regional Express, but would step in if administrator EY could not find a buyer.

Regional Express had a market value of about A$64 million when it entered administration. Since December 2020, the company’s stock price has fallen by more than 75%.