As many as 360 staff at Rex Airlines have been sacked already and hundreds more are on the chopping block after administrators were called in to run the embattled carrier, with remaining staff told they may not get paid until a new buyer is found.
It comes amid speculation that Asia-based private equity firm PAG, which funded Rex’s $150m expansion to jet operations, was considering becoming the airline’s new owner out of administration.
Hours after Ernst & Young announced that all Rex Boeing 737 flights between capital cities were grounded, employees at the nation’s third-largest airline were told those flights would cease to operate, according to the Transport Workers Union (TWU).
Employees were also told that winding up Rex’s jet…
