Rex Airlines has announced it has gone into voluntary administration and cancelled all flights between major airports.
A statement posted on Rex’s website late on Tuesday said Regional Express Holdings Limited and a number of its subsidiaries under the Rex Group have entered voluntary administration.
The airline’s shares went into a trading halt this week following recent boardroom turbulence and multimillion-dollar earnings losses.
Experts say a lack of competition in several Australian industries allows companies to drive up prices for customers and act in their own interests to shut out competitors.
What does competition refer to and how does it affect consumers?
Greg Jericho is the chief economist at think tank the Australia Institute.
He…
