While QAN's result was far worse, and didn't deserve the praise...

While QAN's result was far worse, and didn't deserve the praise it received from some analysts, REX would have had a much poorer result had it not been for disproportionate coffer swelling by the Federal Government.

I would run a mile from having shares in any listed mainstream airline (REX/QAN) or SYD, FLT or WEB.

REX's flights between SYD and MEL will have difficulty in being profitable for at least two years, and possibly will always be lossmaking, although that's too far into the future.

I also don't see a good future for unlisted Virgin Australia, owned by Bain of the USA.