REX AIRLINES Trading Halt

[evolved]

I’m assuming people are still leaving and the job adds are to stem the flow. If they did nothing it would inevitably collapse as more and more people left.

[SIUYA]

Krusty asked what is the Administrator playing at?

ANSWER: They aren't playing KRUSTY....they are desperately trying to polish the !!!! they are holding.

[CaptnCrunch]

Originally Posted by KRUSTY 34

It’s puzzling alright. Given the absolute silence over the last few weeks, it’s difficult to be certain what will happen at the end of the month. If the job advertisements, plans to spend dwindling resources on ground courses, new engines and the like is just spin, then what is the Administrator playing at? I know I’d be pretty pissed off if part of my entitlements were being used to chase Unicorns!

Does anyone feel that the government might step in to keep it going temporarily for the sake of the regional communities? Mind you, that’d surely only be putting a Band-Aid on an increasing hole. Government has said nothing was off the table and with an election looming…

[Aeroplane1]

intentionally put their foot on the rudder as PM during takeoff? Please spill the tea on this one.

[Ladloy]

Originally Posted by Aeroplane1

intentionally put their foot on the rudder as PM during takeoff? Please spill the tea on this one.

exactly that, laughed about it. FO reported him, but in true Rex fashion, the victim is always the problem. Capt got away with it. Standard discourse.

[nomess]

Rex and its antics over the years. Would make a good book! No shortage of juicy content from the flight ops department.

Saabs or Jets, one thing was certain, the place never changed one bit. Was the same old same old Rex.

[Icarus2001]

Does anyone feel that the government might step in to keep it going temporarily for the sake of the regional communities?

Perhaps someone might feel that way but not me. AnAl is in a tight spot with the polling right now. Supporting a failed airline when they let Bonza die would be suicide. The other companies as mentioned above will move in and take up the slack, albeit with a short adjustment period.

[CaptnCrunch]

Originally Posted by nomess

Rex and its antics over the years. Would make a good book! No shortage of juicy content from the flight ops department.

Saabs or Jets, one thing was certain, the place never changed one bit. Was the same old same old Rex.

do we think someone has a ‘The Men Who Killed Rex’ book coming out soon?

[Colonel_Klink]

So once again the Federal Government hands money over to Rex.

https://www.abc.net.au/news/2024-11-...m_content=link

[tail wheel]

So once again the Federal Government hands money over to Rex.

That is the cost of providing regional and rural air services at reasonable prices, not necessarily a life saver for REX. Rural air services have been subsidised by Federal and State Governments and Australia Post for the last 100 years.

[KRviator]

Originally Posted by tail wheel

That is the cost of providing regional and rural air services at reasonable prices, not necessarily a life saver for REX. Rural air services have been subsidised by Federal and State Governments and Australia Post for the last 100 years.

The problem is - this isn't a subsidised route. This is a bailout of a company that rolled the dice on a sketchy investment and spectacularly lost.

There's a substantial difference.

[MickG0105]

Originally Posted by Colonel_Klink

So once again the Federal Government hands money over to Rex.

https://www.abc.net.au/news/2024-11-...m_content=link

An excerpt from The Australian's reporting on the additional government funding for Rex:

With Rex’s administrators hoping to extend the administration period until June 30, 2025 ...

​​​​​​​That certainly answers the question about how the sale process is going.

[Colonel_Klink]

Originally Posted by MickG0105

An excerpt from The Australian's reporting on the additional government funding for Rex:



That certainly answers the question about how the sale process is going.

Absolutely. And no doubt the administrators dragging out the process for another 8 months will make a tidy profit out of this too.

At least the employees who were made redundant should receive their payments.

[Gunrunner1]

“Early access to entitlements for former employees working the routes between capital cities and were made redundant when the airline grounded flights will also be granted.

Rex will pay entitlements for the remaining workers who have been made redundant during the period of administration.”

[KRUSTY 34]

Originally Posted by Colonel_Klink

Absolutely. And no doubt the administrators dragging out the process for another 8 months will make a tidy profit out of this too.

At least the employees who were made redundant should receive their payments.

Nailed that Colonel.

Hopefully part of this funding will in fact go to secure the entitlements, as well as keeping the current employees in work. Not a bad deal in keeping the architects of this debacle employed either!

After the entitlements, badly needed aircraft maintenance, I'm assuming but not holding my breath the payment of outstanding fuel bills, air nav charges etc..., Nifty's salary along with those of his sycophants, and the additional cut from the Administrators, how long will this injection of taxpayers' dollars last?

I'm guessing until around June 30 next year.

[unobtanium]

Originally Posted by KRUSTY 34

Nailed that

probably cent's to the dollar will end up actually keeping the airline in operation's, the rest fills the pockets of those responsible for this mess and administrator's . press release from rex's already claiming they are saving the world what hero's they are after burning million's ruining a profitable operation

[hillbillybob]

The administrators have the right idea. Try to limp along t to a change of government and then they might do better our of Niftys ex colleagues including “I don’t get upgraded”Mckenzie

The coloured spreadsheets will be at the ready

[Stationair8]

Who will be Minster for Rex, in the next government?

[hillbillybob]

Originally Posted by Stationair8

Who will be Minster for Rex, in the next government?

given her previous work history it would have to be Bridget

[tail wheel]

"The problem is - this isn't a subsidised route."

Whatever REX air route you are thinking of may not be a subsidised route, but REX operates subsidised routes (for example in Western Queensland) and a number of unsubsidised regional and rural routes which are effectively sole carrier, essential air services to rural and remote destinations. There is obviously a minimum fleet utilisation to remain above break even (the Receivers are personally liable for any losses they generate) and the grant they have received meets that requirement.

Since I entered the Australian aviation industry over 50 years ago, Australia has lost air services to around 100 rural and remote destinations which were funded by RASS (Rural Air Services Scheme), Australia Post and State subsidised routes. I've lived in the bush, life can be tough without a scheduled air service. I do not want to see more rural air services lost.

"Hopefully part of this funding will in fact go to secure the entitlements, as well as keeping the current employees in work. Not a bad deal in keeping the architects of this debacle employed either!"

The former I wholheartedly support. The latter may not be the case - Receivers (who are personally liable for the conduct of the business) don't remunerate ex Directors and seldom retain and remunerate executives who created the financial catastrophy.