Yes, but its apples and oranges, Rex is in a rapid expansion phase, most would have a breakeven mark at two years plus with extremely steep startup costs in the first two years, I wont even add in Covid. QF is purely in damage control with its international ops on life support and its domestic just coming out of hibernation. Rex could probably drop a share float tomorrow and pick up 100mil in cash flow if it wanted to, as you said it's a matter currently of cheap loans add to that not wanting to dilute the share mix. Virgin did similar just before it crashed in a heap. There is a vast difference to floating shares for expansion or for life support and the market will respond accordingly.
PS in comparing the two airlines, they both had the same % increase in revenue of just over 34% Rex and 31% for QF. Comparing share value, Rex each share has a net tangible value of +$1.28 per share, where Qantas the tangible value has gone further negative to -0.35cents. That last bit really shows how bad QFs debt position is, the company has no tangible value if you broke it up.
Last edited by 43Inches; 27th Feb 2022 at 02:26.