Why the Regional Express (ASX:REX) share price is flying higher today

The Regional Express Holdings Ltd (ASX: REX) share price is trading close to its 52-week high after an overseas interest gained investment approval today. After an early surge, the Regional Express share price is trading up 1.32%, at $2.31.

This is the latest piece of good news for the regional airline that has seen its share price soar in recent weeks. Brushing aside COVID-19 impacts that largely decimated the travel sector this year, the Regional Express share price is up an astonishing 97% since the start of the year.

What happened today?

This morning, leading Asian investment firm PAG confirmed it had been granted Foreign Investment Review Board approval to acquire an interest in Regional Express.

The approval was sought in…