Random idea, but could VA/Bain step in?
Could wait for the price to drop to rock bottom, buy Rex out of administration, absorb the jets into their network and rebrand them, and restructure the regional network back to what used to work.
They come out with more jets, more pilots, and a filler regional network to compete with QF and add to the existing small numbers of Link SAABs bashing around.
Depends if they have the cash to do so and/or see the value in it, idk just spitballing.