REX AIRLINES Trading Halt
Joined: Jan 2006
Posts: 2,535
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From: Sydney Australia
Joined: May 2010
Posts: 446
Likes: 78
From: australia
Joined: Feb 2002
Posts: 4,399
Likes: 135
From: NSW
If you know anything about the court system this case was probably filed months ago. For routine filings you have to wait. First you serve a notice on Rex and wait for their response and then the lawyers start a filing. All takes time.
Q. Why did LH not pay as per the original contract?
Q. Why did LH not pay as per the original contract?
Joined: Dec 2001
Aviation Qualifications: ATPL
Posts: 4,419
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From: Brisvegas
The highlighted companies, which include Regional Express Holdings Limited (top of the food fool chain), are all under administration. That effectively brings all the subsidiaries into play. They could either sell off the assets of, or sell the subsidiaries outright as going concerns in order to satisfy creditors. On the basis that they only own half of NJE, there would be some constraints regarding its assets, but there would be no problem (other than the obvious one of who owns the other half) in selling Rex's half share in NJE .
Joined: Sep 2019
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From: Qld
https://www.flightradar24.com/data/aircraft/vh-rqp
Joined: Jun 2001
Posts: 4,835
Likes: 85
From: Boldly going where no split infinitive has gone before..
BZG (RQP) had just left the country for their new home via Lombok. Seems like it's the ex-SQ units that are heading to VA as they were ferried to ASP for storage.
https://www.flightradar24.com/data/aircraft/vh-rqp
https://www.flightradar24.com/data/aircraft/vh-rqp
Joined: Dec 2023
Posts: 1,150
Likes: 889
From: Oz
BZG (RQP) had just left the country for their new home via Lombok. Seems like it's the ex-SQ units that are heading to VA as they were ferried to ASP for storage.
Those SQ machines got sold off post exit in Singapore to minor parties. Often the bigger players don’t sign deals with these smaller owners. They will likely sit idle for years.
Joined: Apr 2010
Posts: 375
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From: Brisbane
“We’re picking up a handful of the Rex aircraft that haven’t yet left the country to help give us more degrees of flexibility as we adjust with Boeing’s needs to manage the challenges that both Boeing and Airbus are facing with respect to getting their supply chains back in balance.”
Joined: Dec 2023
Posts: 1,150
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From: Oz
Interestingly Virgin (Hrdlicka) are saying they are taking the jets still in country
Who knows what engineering state they are in. CASA has never had great oversight of its Saab operation, who knows how the 737 books look. They didn’t really have the cash or reach to pay and organise larger scale fixes.
On another note, it’s very quiet in Rex Administration land…
Joined: Dec 2023
Posts: 1,150
Likes: 889
From: Oz
EY was very bullish at the start, I recall they advised it would be all finalised in a matter of weeks, considerable parties had been lining up for the data room. I’d say what followed is a disagreement between what EY wanted (ie Rex as a whole) and what those parties wanted (ie pick apart the carcass only).
It’s such a complicated group, with many assets, engineering, and so on, jointly used across many arms. Selling off assets to reduce the debt for a sale is also problematic, the assets are mostly needed aside a few, attempting to re lease other hangers or buildings post a sale just adds to the continued problems.
The Saab operation can’t realistically be seen as continuing without some form of government tie up with a buyer, if a buyer even exists. Even then, still seems somewhat impossible when looking at the numbers, and what to do with the fleet in the long term. I reckon even Labor would get cold feet. It’s essentially an investment for a new startup turboprop carrier, we would be talking hundreds of millions required over the coming years.
The Government would better off going into a deal with Link when the carcass picking session begins. Certainly will get access to some cheap equipment and spares, with the ability to increase its network, they will require government funding however to make that happen. Perhaps Labor should have chosen its words more carefully when it went under, they have told the world essentially they won’t let the regions suffer from lost connectivity. They might have a get out of jail card if they form a tie up with Link.
It’s such a complicated group, with many assets, engineering, and so on, jointly used across many arms. Selling off assets to reduce the debt for a sale is also problematic, the assets are mostly needed aside a few, attempting to re lease other hangers or buildings post a sale just adds to the continued problems.
The Saab operation can’t realistically be seen as continuing without some form of government tie up with a buyer, if a buyer even exists. Even then, still seems somewhat impossible when looking at the numbers, and what to do with the fleet in the long term. I reckon even Labor would get cold feet. It’s essentially an investment for a new startup turboprop carrier, we would be talking hundreds of millions required over the coming years.
The Government would better off going into a deal with Link when the carcass picking session begins. Certainly will get access to some cheap equipment and spares, with the ability to increase its network, they will require government funding however to make that happen. Perhaps Labor should have chosen its words more carefully when it went under, they have told the world essentially they won’t let the regions suffer from lost connectivity. They might have a get out of jail card if they form a tie up with Link.
Last edited by nomess; 21st September 2024 at 21:56.