Rex in voluntary administration, ending all 737 services

[A321]

REX about to be rebranded….

PAG coupled with an overseas airline

The Cheesecake Shop airlines?

 

[simmomelb]

They've now removed the banners advertising mid-week promo prices on the jet routes from the main page on the website. Now showing banners promoting regional airfares instead.

Very observant, true

 

[henrus]

They've now removed the banners advertising mid-week promo prices on the jet routes from the main page on the website

Shall we save this here for now:

 

[henrus]

The Cheesecake Shop airlines?

Turns out PAG doesn’t even own that anymore:

River Capital gobbles up PAG’s The Cheesecake Shop

Asia-based investment giant PAG Asia Capital has cooked up a deal to sell Australian speciality cakes retailer and franchisor, The Cheesecake Shop.

www.afr.com

 

[A321]

Turns out PAG doesn’t even own that anymore:

River Capital gobbles up PAG’s The Cheesecake Shop

Asia-based investment giant PAG Asia Capital has cooked up a deal to sell Australian speciality cakes retailer and franchisor, The Cheesecake Shop.

www.afr.com

haha! Private equity | PAG
Can't trust em

 

[HS-TQE]

They've now removed the banners advertising mid-week promo prices on the jet routes from the main page on the website. Now showing banners promoting regional airfares instead.

The article on the new Perth jet routes is still up there, looks a bit awkward.

 

[pauly7]

Are you working on this one??!

Ah no… still under restrictions from previous work anyway! Very happy to not be on this particular merry go round

Whoever gets to work on this one, will be interesting that’s for sure, especially given the personalities of the players involved

I do feel very sorry for the staff impacted.

 

[henrus]

haha! Private equity | PAG
Can't trust em

If you click on that tile it actually says “status : exited”

Maybe they’ll update Rex to the same thing tomorrow?

 

[Must...Fly!]

I do feel very sorry for the staff impacted.

Same, given quite a number would've been through the uncertainty of the events at VA. Very sad.

 

[Saab34]

Crews always get screwed over here as they are often paid fortnightly or even monthly. As seen with Bonza, went bust a few days before the monthly pay date.

Its the end of the month so would suck if the are paid monthly.

 

[SeatBackForward]

So whats our run rate now since Ansett?

 

[Mattg]

If you click on that tile it actually says “status : exited”

Maybe they’ll update Rex to the same thing tomorrow?

It currently says "active" for me.

 

[henrus]

It currently says "active" for me.

Was meaning the cheese cake shop is expired, Rex is still active for now.

 

[pauly7]

Same, given quite a number would've been through the uncertainty of the events at VA. Very sad.

You are quite correct. Extremely difficult for those poor team members in particular.

 

[HS-TQE]

haha! Private equity | PAG
Can't trust em

How long would it be (the administration process) before the status for REX in the PAG portfolio is updated to "exited"?

 

[trisreed]

Shall we save this here for now:
View attachment 399671

This route map lasted (checks flight log) one month and one day.

 

[MEL_Traveller]

Very sad for the crew. I’m *hoping* for their sake that even if not on active flying duty, they’ll at least get paid for the next while as things are sorted out. Other parts of the business are profitable.

I did my bit to support poor Rex. Or the crew at least! Got to diamond in just under three months!

 

[Saab34]

I recall when VA went into admin, Velocity did not. So I assume it’s just Rex going into VA, not NJE or Pelair?

If that is the case, then I assume 737 will be ‘paused’ and staff stood down.

 

[airlinemn]

“Sources with direct knowledge of situation said live negotiations between PAG and EY were centred on converting its debt to equity — giving its massive influence over the airline — should EY be appointed as expected.”

Rex’s big lender PAG Asia Capital prepares for salvage operation

PAG’s view, they said, was that the capital city strategy had been a failure and should end immediately. The regional routes, however, could be saved.

www.afr.com

 

[moa999]

VA went into admin, Velocity did not.

Velocity was somewhat helped by the fact that VA had previously sold part of it (and bought it back at a significant premium adding to their issues) but the $$ value of the points was still in a trust.

Afaik neither Rex (nor for that matter Qantas) FF program has that protection.