Why the Regional Express (ASX:REX) share price has flown 5% higher today

The Regional Express Holdings (ASX: REX) share price is up by 5.51% today, after the airline released a notice to shareholders this morning in advance of its annual general meeting.

Contained in the notice was a request to shareholders to vote for the proposed deal with PAGAC Regulus Holding Pte Ltd (PAG) to fund its push into domestic city routes.

A bit of backstory

Regional Express (Rex) has predominantly been an air service provider for connecting cities to rural areas, and vice versa. However, since the collapse of Virgin Australia in April, Rex has been entertaining the idea of domestic flights from city to city.

In May, Rex addressed the media speculation and stated that it was in discussions with several interested potential…