Rex halts share trading, future in doubt

Wednesday, 30 Jul, 2024 0

Could another Aussie airline soon bite the dust?

There is a trading halt on stock as Rex is reportedly appointing consultants to turn around its financial issues.

Rex was predominantly a regional carrier but in recent years has been operating jet service in competition with the big two: Qantas and Virgin Australia.

These two airlines have a combined 93% of the market.

The Prime Minister has responded.

“One thing we need to do is to make sure that we have a viable and ongoing Australian aviation industry,” Anthony Albanese said.

Albanese said if Rex went under many outback communities would suffer.

“Rex is the only airline to go to some of those destinations, so it’s important.”

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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