...even if you have been following its latest announcements and results, you would not have had the slightest clue that Regional Express (REX) could be in financial trouble.
...it has debt facility but not owed to banks but Air Ambulances.
...how is it that media is reporting possible administration?
...this is why you should never buy a stock which price is continuing to make lower lows. It is never the bargain you'd imagine.
Rex shares have been placed in a trading halt until at least Wednesday.
The halt follows a story published in The Australian over the weekend claiming that Rex had called in a “turnaround team” from Big Four accounting term Deloitte and that the airline has been having trouble turning a profit in its domestic jet operations.
According to the report, Sal Algeri and Richard Hughes, who helped Virgin recover from voluntary administration, are leading the Deloitte team.
