Rex Airlines has grounded its fleet of Boeing 737 aircraft and entered into voluntary administration but will continue to service select regional routes using its Saab 340 fleet.
The shocking decision ends two days of speculation about the future of the country’s third largest airline after Rex suspending trading on the ASX 200 on Monday.
According to The Australian, the company was losing close to $1 million a week between July 2023 to December 2023 in its public transport services.
In a short statement on the Rex website, the airline confirmed all domestic flights between major cities are cancelled but regional flights will continue as scheduled.
The statement confirmed Regional Express Holdings Limited and a number of its…
