Originally Posted by
KRUSTY 34
That was at a time when all the domestic airlines were in major expansion. As a result, REX lost 60% of their pilots in 2007/08. REX were cancelling flights left right and center but were able to whether the storm due to their (at the time) commendable low debt/equity ratio. Although the thousands of stranded passengers may not have seen that as a positive.
It was however getting to the point where rational pragmatism (survival) may have started to have an influence. Then came along the GFC which ultimately saved the day!
history is repeating itself currently.