Ann: Trading Halt, page-30

The ABC reported this morning that Ernst and Young have been called in as administrators. Rex is currently $150 million in debt to creditors who fronted funds so that Rex could buy a couple of Virgin jets after Virgin went bust during COVID.
The plan to operate these aircraft on the 'golden triangle' to compete with Qantas and the resurrected Virgin was initially hailed as a good idea, but it seems to have been their downfall.
With the Albanese Labor government currently embroiled in the CFMEU fiasco as well as an embarrassing ministerial reshuffle, a bail out will draw the vitriololic ire of Bonza staff and crew, who didn't even get their final salary payments.
Why bail out Rex to restore "vital regional routes" when Bonza, which itself was largely regional on monopoly routes, wasn't bailed out?
I feel matters are not positive moving forward.

In the words of the late musical philosopher Freddy Mercury, "Another one bites the dust."

Qantas has gone from trading 5c down to 9c up in trading today.

Interesting times ahead.