When Rex expanded its operations into the Golden Triangle routes between Sydney, Melbourne and Brisbane, it knew it was an ambitious plan.
But if the risk paid off, the financial windfall would be considerable.
The Sydney-Melbourne route is one of the most lucrative in the world and delivers our two biggest airlines, Qantas and Virgin, with more revenue than any other.
While that would be more than enough to entice any would-be entrant, there was another likely reason why Rex believed it could pull off such a bold initiative.
In 2020, one of its major competitors on the capital city routes, Virgin Australia (VA), was on shaky footing.
VA went into voluntary administration in April that year, owing an eye watering $6.9 billion sum to…
