Agree. While REX's loss is tiny compared with QAN in nominal...

Agree. While REX's loss is tiny compared with QAN in nominal terms, it's a big hit. If annualised the REX loss could be A$160 million.

REX has made the mistake of not keeping to its knitting.

Daniel Andrews and Acting Premier James Merlino are its biggest 'enemies' in terms of REX wanting a return to normality, along with completely risk-averse Victorian CHO Brett Sutton and bumbling Minister for Health Martin Foley. Hopeless, the lot of them, and Sutton is qualified in tropical medicine not the area most similar to COVID-19.

There's the prospect of more lockdowns in Melbourne, which is the only 'strategy' the completely incompetent Victorian government seems to have. International research suggests lockdowns are ineffective, but it's a cover for Victoria's inept management of hotel quarantine. Compare and contrast with NSW that's had far more international arrivals into Sydney than has Melbourne.

From Friday there'll allegedly still be a 25 kilometre travel limit for more than five million people in Melbourne. Other states will be unlikely to encourage Victorian visitors while concurrently advising their residents not to travel to Victoria.

I'm not necessarily wiser than REX holders but glad I have a rather less than sanguine view of airline stocks as 'investments'.