In 2021 NJE's 14-strong fleet aircraft brought in $142 million flying workers to remote sites across WA.
Rex's fleet of 60 Saab 340 and six Boeing 737-800NG aircraft will be bolstered by NJE's eight Bombardier Q400 turboprops and six Embraer E190 jets.
Cobham undertook a modernisation program of its fleet, retiring the last of its Avro RJ100 jets last month.
Rex executive chairman Lim Kim Hai said the modern NJE fleet offered enhanced operational reliability and low carbon emissions, compared to the predominantly 40-year-old Fokker 100s used by the other major FIFO operators.
He said FIFO services were expected to experience strong growth in Australia and the acquisition positioned Rex to participate in this booming sector.
"With this acquisition, Rex will have a FIFO arm that is simply unparalleled in Australia," Lim said.
"I believe NJE's modern aircraft fleet and its long-term customer relationships, overlayed with Rex's proven record of safety, reliability and cost efficiencies will propel NJE to be the premier FIFO operator in Australia."
Lim said resource companies across the country had been crying out for a FIFO provider that could address their triple priorities of minimal impact on the environment, the comfort and safety of their staff, and reliability of service.