Loving the pedanticism.
I think the point is clear, REX are not in the toilet.
Whilst not a fan of their antics or Chairman, it would seem they are hanging in there and responding as needed. Despite the wishes of some, it would seem they are not going anywhere, at least for now.
Of more interest to me is where we are going to end up:
QF buys Alliance, completes Mainline, Regional and Charter piece.
REX now Mainline, Regional and Charter.
VA, Mainline and Charter only.
Given VA have some 33% of the market, there is a question here on their regional strategy?
Partner with REX?
Greenfields?
Partner with smaller players (Skytrans, Airline, AirNorth etc.)