Regional Express Holdings’ (ASX: REX) bold push to service capital city routes in competition with Qantas and Virgin has finally taken its toll with the company placed into voluntary administration and flights suspended.
But while voluntary administrators have been appointed to five companies within the Rex Airlines group, regional Saab 340 services to areas such as Ballina, Dubbo, Merimbula, Griffith and Bathurst have not been affected.
The collapse of Rex Airlines, the second major Australian airline to fold in the past three months, comes on the heels of creditors voting earlier this month to liquidate the short-lived startup Bonza Airlines.
According to the Transport Workers Union, the move has impacted 6https://www.businessnewsaustralia.com/10 jobs at Rex in an industry that has “already taken hit after hit”.
Samuel Freeman, Justin Walsh and Adam Nikitins, of Ernst & Young Australia, have been appointed voluntary administrators to the Rex Airlines group and they are currently working with the industry to minimise the impact of grounded flights on passengers.
Flights between major airports have been cancelled and Rex’s domestic fleet of https://www.businessnewsaustralia.com/10 Boeing 737 aircraft have all been…
