Originally Posted by
nomess
ASIC have already been sniffing around and I don’t think that will be the end of it.
Going off what was reported to market for the period ending Dec 31, Rex should still have cash available. The comments from the administrator that funds are tight, another injection from PAG was required to keep the lights on post administration, indicate otherwise. I assume they have held over numerous invoices for H2 which has just eroded a large chunk, combined with a declining passenger base, has simply wiped the joint. It’s a crazy amount of cash to simply burn in H2.
Something is definitely amiss with the financials here when looking at the last report. Lease bills appear to have skyrocketed.
of course they skyrocketed. their discounted rates from picking the leases up during covid came to an end