I very much doubt they will be buying new planes. Rex is an...

I very much doubt they will be buying new planes. Rex is an extremely tightly run company, that counts every cent very carefully. And is still making a small profit.

The Chairman, who now owns just over 22% of Rex, has bought shares on-market on five different occasions since 15th September. For an average price of about 91 cents. Price now 98 cents.

Without any headlines, Rex has out-performed Qantas slightly over the last year, but has blown it away over the last 30 days. $1000 in QAN 30 days ago = $850 now.
$1000 in Rex 30 days ago is now = $1150.

Qantas tends to follow Rex rather than lead. It constantly dumps capacity on Rex's routes, and has done so again now on the new Western Queensland routes. Putting 74 seat Q400s to replace the previous smaller aircraft. That strategy has not worked in several other inland routes.

Obviously Qantas hopes that Rex will go away. Few city dwellers would know that on Qantas monopoly routes in the bush, they charge triple prices. Eg. Tamworth dwellers will pay $362 to fly to Sydney today, that's the cheapest ticket. But from Dubbo, where Rex and Qantas compete, the cheapest ticket price is $120.

Moree to Sydney today, no competition, Qantas ticket = $358
Wagga to Sydney today, competition, cheapest ticket= $124

So getting rid of Rex triples Qantas ticket prices.