REX AIRLINES Trading Halt

[KRUSTY 34]

Originally Posted by chickoroll

Rex academy in Wagga advertised as a commercial property up for sale now. Looks like they have plenty of direct entry applicants for future positions.

Future positions Where?

[evolved]

Originally Posted by chickoroll

Rex academy in Wagga advertised as a commercial property up for sale now. Looks like they have plenty of direct entry applicants for future positions.

Got a link for the add?

[autopilot11]

I heard that EY told staff that they are selling the Wagga academy and Mascot HQ properties but renting it out to the new buyer. In other words until roller doors come down.
in other news LKH has already purchased some of the company property off market...

[chickoroll]

Originally Posted by evolved

Got a link for the add?

You thinking of buying? Could be a good investment for the next airline that pops up

[nomess]

Originally Posted by Captain Garmin

VH-PAG didn’t make it to Nadi.

https://flightaware.com/live/flight/...300Z/YMML/YBBN

PAG has arrived in Arizona.

Must have quite a few issues. I recall it was already out of service prior to entering administration. Was this the one that had the gear issues?

[43Inches]

Originally Posted by chickoroll

You thinking of buying? Could be a good investment for the next airline that pops up

Interesting that it says that tenancy is 'vacant'. Does that mean that AAPA will not be continuing from that facility at least?

[scrotometer]

TOLL is supposedly to be announced as the buyer of Pelair next week

[Alice Kiwican]

Originally Posted by helispotter

In post #814, I listed Rex SAAB 340B's on the Australian register. Intermittently this past weekend and today, I have been monitoring Flight Radar 24 to see which of their aircraft are operating around the country. So far, it has been 24 of the 57 that are registered (see last column of list below). That isn't to say more are not also airworthy.

I counted 15 of Rex’s SAAB 340B’s minus engines and 5 Pelair IAI Westwinds in various conditions parked up in Wagga a week ago. May have been a couple more airframes tucked away in their hangars as well.

[DanV2]

VH-Michael Francis McCormack (MFM) has landed in DPS tonight. Reportedly continuing to Europe within the next 48 hours for storage.

[The Love Doctor]

Originally Posted by autopilot11

.
in other news LKH has already purchased some of the company property off market...

How is that even legal?

[KRUSTY 34]

Originally Posted by The Love Doctor

How is that even legal?

It's only illegal if you can't get away with it.

Hello ASIC, anyone home?

[BagoRatz]

Originally Posted by KRUSTY 34

It's only illegal if you can't get away with it.

Hello ASIC, anyone home?

The executive chairman, then non executive director is able to buy property of the organisation that they took in part in getting into administration in the first place? Certainly doesn't pass the pub test.

[1A_Please]

Originally Posted by BagoRatz

The executive chairman, then non executive director is able to buy property of the organisation that they took in part in getting into administration in the first place? Certainly doesn't pass the pub test.

It seems strange but it is not the responsibility of the administrator to oversee this. Their responsibility is to maximise return to borrowers affected by the administration. The administrator would only be in trouble if they were not selling to a buyer making the highest bid. As for ASIC, they will review the behaviour of the chairman whilst he was leading REX but that would not necessarily mean they could bar him from purchasing assets as disposed by the administrator providing the transaction is on an arms-length basis.

[d_concord]

Originally Posted by scrotometer

TOLL is supposedly to be announced as the buyer of Pelair next week

Makes the most sense, they do the helicopter components of the aeromedical ops anyway. Be interesting if they have have just cherrypicked that component or if they have also taken the 50% of NJE. They would make a signifcant competitor in the FIFO sector if they took an expansionary view. Not sure how they would go with a 50% shareholder like LKH though. If he was smart he would just sit back and let Toll do the driving.

I have heard there is no buyer for the regional ops as yet.

[nomess]

Originally Posted by d_concord

I have heard there is no buyer for the regional ops as yet.

Labor are on the nose at the moment aren’t they?

Albo Regional Airways?

[snoop doggy dog]

Labor are on the nose at the moment aren’t they?
Media in Australia make sure of that 👍🏼
​
Albo Regional Airways?
So quick to forget, 'ScoMo' gave them $62M during CoVid...

The ones at the top of REX (+Qantas) need to be jailed for theift. They theive tax payer money and workers wages. They won't, as many are quick to defend and give accolades.
​​​

[CaptnCrunch]

Originally Posted by snoop doggy dog

Labor are on the nose at the moment aren’t they?
Media in Australia make sure of that 👍🏼
​
Albo Regional Airways?
So quick to forget, 'ScoMo' gave them $62M during CoVid...

The ones at the top of REX (+Qantas) need to be jailed for theift. They theive tax payer money and workers wages. They won't, as many are quick to defend and give accolades.
​​​

Allegedly, management are leading staff to believe a Rex 2.0 is going ahead. It would be disgusting to do that to staff if that’s not reality. Watch that CEO and questionable management committee members keep their jobs, meaning nothing will get better.

Also allegedly, staff are being advised the reason why all those aircraft are parked is due to a maintenance program has been underway and due to be completed in November. Puzzling they’ve suddenly found the money, engineers and parts, which had been a long ongoing issue. Must be a miracle.

[Ladloy]

Originally Posted by snoop doggy dog

Labor are on the nose at the moment aren’t they?
Media in Australia make sure of that 👍🏼
​
Albo Regional Airways?
So quick to forget, 'ScoMo' gave them $62M during CoVid...

The ones at the top of REX (+Qantas) need to be jailed for theift. They theive tax payer money and workers wages. They won't, as many are quick to defend and give accolades.
​​​

It was a lot more than 62m

[chickoroll]

Even if REX were given more than 60 million they do have heavily subsidized gov regional routes and they still messed it up in a major way. Goes to show why there is no buyer for the regional arm.
If the labor gov (or any gov for that matter) support or buy a portion it would almost spell the end for that gov as the very majority of this country don’t give a stuff about Rex regional.

[mikewil]

Can anyone speculate as to why the regional arm can't potentially be considered profitable in its own right to justify its purchase?

Rex management cocked it up by neglecting it during their grand plans for the 737 op, but prior to that Rex was profitable in its own right for virtually its entire existence as a regional only operator.

Sure the Saabs are old and many are not in serviceable condition (thanks again to management) but is there a reason why a new owner of Rex wouldn't be able to bring the operation back to what it once was and continue to operate the ageing aircraft (because while they are old, they are cheap and relatively reliable when looked after)?