Rex's net debt position is now at an all-time high, around $285m. This was driven almost entirely by a nearly $80m draw down on their loan facility with Westpac.
Yawn, if you read through the report most of the debt, in fact $77million from Westpac was the payment for the NSW and Vic ambulance contracts new aircraft acquisition, totally unrelated to the airline. Which was always on the cards to be paid down by that contract, no one would pay cash for $170mil of new aircraft, loans/lease would be smarter financially.
what's your solution for no crew, 15 odd saabs grounded with no parts and an aging saab fleet
Kick the engine overhauler up the klacker for slowing down over covid. Nothing to do with fleet age, its slow engine overhauls catching up after a covid slowdown, considering engines have nothing to do with the age of the airframe.