Rex in voluntary administration, ending all 737 services

[markis10]

Fuel pump issue, leaving lunchtime today

 

[p--and--t]

Live: Government offers Regional Express $80m lifeline to keep regional routes running

Regional Express has been offered an $80 million in financing to keep regional routes running after the nation's third-largest carrier entered voluntary administration in July.

www.abc.net.au

 

[33kft]

Live: Government offers Regional Express $80m lifeline to keep regional routes running

Regional Express has been offered an $80 million in financing to keep regional routes running after the nation's third-largest carrier entered voluntary administration in July.

www.abc.net.au

Worked so well the last time around....

 

[anat0l]

Worked so well the last time around....

Well this time they shouldn't be blowing it on a 737 war.

Seems unfair to say that... everyone wants more mainline competition, and any competition needs to start with something otherwise we would always have nothing..... but...

 

[Harrison_133]

The administrators plan to apply for an extension for the voluntary administration process until 30 June 2025.

The Government will also grant early access to entitlements for former Rex employees.

Source: Rex gets multi-million lifeline for regional flights

 

[Mwenenzi]

Live: Government offers Regional Express $80m lifeline to keep regional routes running

Regional Express has been offered an $80 million in financing to keep regional routes running after the nation's third-largest carrier entered voluntary administration in July.

www.abc.net.au

The administrators plan to apply for an extension for the voluntary administration process until 30 June 2025.
The Government will also grant early access to entitlements for former Rex employees.
Source: Rex gets multi-million lifeline for regional flights

General Election in a few months (May 2025 at latest). The Govt will not let REX fold : not good for regional seats and the bad RP that would entail. The extension of 30 June is after the election.

 

[p--and--t]

Well this time they shouldn't be blowing it on a 737 war.

Seems unfair to say that... everyone wants more mainline competition, and any competition needs to start with something otherwise we would always have nothing..... but...

One would hope the administrators have more level heads and be considering the viability of the business more than the egos of previous management.


The largesse of govs of all persuasions towards this company have been of very generous proportions for many years.

 

[Saab34]

That’s a lot of cash for a fleet of 30 odd Saabs.

Entitlements only make up a small portion when checking the reports.

 

[markis10]

That’s a lot of cash for a fleet of 30 odd Saabs.

Entitlements only make up a small portion when checking the reports.

Not too dissimilar to the Covid 19 funding they received

 

[Harrison_133]

That’s a lot of cash for a fleet of 30 odd Saabs.

Entitlements only make up a small portion when checking the reports.

The administrators are claiming that the financing will help to increase the size of the operational fleet and allow them to invest in a business improvement program.

Time will tell I guess, but it does have a whiff of the Bonza admin about it.

More here: https://www.rex.com.au/BlobViewer/B...63232564844386F3231735142436F45744C7A4D413D3D

 

[Bundy Bear]

Surprised at size of bills still to pay at Albany and Esperance airports

Regional communities want higher standards alongside $80m Rex lifeline

Community leaders in WA say Rex Airlines needs to improve its poor service record and pay its outstanding bills after being thrown a lifeline.

www.abc.net.au

 

[Aussie_flyer]

I think it's a good move by the govt this time. We need a viable and profitable Rex operating regionally and hopefully even restoring some old routes. Fares are already astronomical regionally and letting QFLink be the sole operator on a lot of routes where they do cross over is not a good thing. Look at the reports out today about airfares generally since Rex Jet folded.

 

[HS-TQE]

A lot of the fault lays at the feet of the REX 1.0 management, and the ongoing internal bickering after the defacto-CEO (Exec Chairman) was ousted from his role by the Private Equity company and his former besties together before they went into administration.

Well there's an opporunity for a Star Alliance carrier (aka the 'Usual Suspects') to take over the carrier and turn it into a "Star Alliance Australian feeder" considering VA 2.0 is about to 'get Qatar'd'

On a more serious note, I agree this administration to starting to follow the path of the Bonza administration, dragged out until after the Federal election.