Rex Airlines is in crisis mode after suspending trading on the ASX 200 amid rampant speculation of an imminent restructuring or possible administration.
Anthony Albanese has spoken out about the future of Rex Airlines after the embattled carrier suspended trading on the ASX amid rumours of a possible restructuring or administration.
The Australian's aviation writer Robyn Ironside believes Rex is desperately waiting on Deloitte to provide guidance on how to restructure the ailing business. “They expect that report will provide information on whether they can restructure the business, so it can continue or administrators need to be appointed.Rex’s suspension comes weeks after a round of musical chairs in the boardroom which saw longtime deputy chairman John Sharp elevated to chairman, replacing former executive chairman Lim Kim Hai and associate Lee Thian Soo.
Rex currently flies to 56 destinations and largely remains centred on providing links between regional centres and major cities.
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