Australia's government on alert to support airline Rex as it hits turbulence
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 30 2024
0mins
Source: Reuters
Government Support for Regional Express: The Australian government is prepared to assist Regional Express (Rex) amid reports of potential restructuring, but has not committed to any bailout packages. Transport Minister Catherine King emphasized the importance of Rex in providing airline services to rural areas.
Financial Struggles and Job Risks: Rex is reportedly facing significant financial difficulties, with a loss of A$2.1 million reported for the first half of the 2023/24 financial year, and around 2,000 jobs at risk if the airline collapses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
