Australia struggles to sustain low-cost airlines due to high costs and limited population. Fraud charges against U.S. executives involved in Bonza’s $500 million fraud case. Bonza’s fleet seized in April 2024, leaving passengers stranded. Rex Airlines in bankruptcy since July 2024, now bought by Air T after E&Y administration. Rex to exit bankruptcy without shareholder returns, critical for rural air connectivity. Air T to restructure Rex’s finances for profitability amid challenges.

Read more at Yahoo Finance: Budget airline that filed for Chapter 11 gets surprising buyer