Rex Airlines Trading Halts Amid Major Internal Strife

Rex Airlines has halted trading, as speculation grows it will axe some of its struggling routes.

The Weekend Australian reported Rex had a major internal crisis among board members and voters, as well as struggling 737 operations.

It had recruited an accounting team from Deloitte, The Weekend Australian reported, with Rex calling it a “turnaround team”, before calling for the trading halt.

“The securities of Regional Express Holdings Limited (‘REX’) will be placed in trading halt at the request of REX, pending its releasing an announcement,” the ASX statement said.

“Unless the ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 31 July 2024 or when the announcement is released to the market.”

Rex shares have fallen by nearly 50 per cent in the last 12 months, and last traded at $0.565.

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Rex Airlines Trading Halts Amid Major Internal Strife

Rex Airlines has halted trading, as speculation grows it will axe some of its struggling routes.

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