Ann: Notice of Meeting and Explanatory Statement, page-40

I take no pleasure in seeing Rex’s 737 operation fail with the losses suffered by creditors, founders and shareholders, not to mention the employees who have lost their jobs. Hopefully there are other employment opportunities readily available in the aviation sector.

The sad bit for me is that this outcome, while not a certainty, was at least a likely outcome from REX gambling the regional business on a bigger prize. It’s also sad for the Federal taxpayer having to stump up to keep regional communities connected while the Administrators seek to sell off this business. Hopefully there is a buyer who understands the industry and rural communities, and with pockets deep enough to provide the operation with a stable footing going forward and who can start to think about fleet renewal.

For anyone interested, see my comments in the linked post from 27 December 2020 where I sought to provide some unbiased thoughts on what the PAG deal could mean for the then existing REX shareholders. To the REX board I would say, if a sideline poster on HC could make a reasonable stab as to how this might play out, why couldn’t you? Was the significant risk being taken by REX shareholders ever a reasonable business strategy for those who risked the most?