The Federal Court of Australia approved a bid by administrators of Regional Express Holdings (ASX:REX) to delay the next creditors' meeting to continue talks with several potential buyers, according to a court judgement issued on Tuesday.

The court ordered a delay in the convening of the second meeting of creditors by about five months to Dec. 5. The judgment noted that the extension will maximize the prospect that the airline will be able to be sold as a going concern and will continue in existence.

Shares in the airline, which is in voluntary administration, remained suspended from trading.