Rex halts share trading, future in doubt


Rex halts share trading, future in doubt

Tuesday, 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.” 

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