From Investing.com: 2024-11-11 19:15:40

The Australian government will provide up to A$80 million to airline Regional Express Holdings to support regional routes during an extended voluntary administration process. Transport Minister Catherine King emphasized the importance of maintaining regional aviation access. Rex’s move to larger jet flights did not impact Qantas and Virgin Australia’s market share. Administrators plan to extend the voluntary administration until June 30, ensuring redundancy payments for affected employees. The aid aims to help Rex increase operational aircraft. The airline’s exit from major city routes led to increased airfares and reduced passenger choices, impacting the domestic aviation sector.



Read more at Investing.com: Australia regional airline Rex gets $53 million government lifeline to keep flying By Reuters