The Australian regional carrier’s financial future is in question as Transport Minister Catherine King says the federal government is in touch with the airline.
Australian regional airline Rex is set to appoint Ernst & Young as administrators, according to people familiar with the matter.
Rex launched capital city services as part of a new strategy, putting it in competition with Qantas and Virgin Australia.Rex shares have fallen 35 per cent this year. The carrier mostly serves regional cities, but has more recently added services between capital cities such as Sydney and Melbourne, routes which are dominated by larger rivals Qantas and Virgin Australia.
Rex flies to 56 destinations, including between the cut-throat markets of Sydney, Melbourne and Brisbane. In June, it began offering one-way fares as low as $99 between Melbourne and Perth in an effort to steal market share from its bigger rivals Qantas and Virgin.
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