Regional Australian airline Rex has suspended trading on the Australian stock market pending an upcoming announcement. The ASX-listed company halted trade on Monday ahead of a statement addressing a media report published over the weekend. The trading halt is expected to remain in place until tomorrow or until Rex releases a statement.
This suspension follows the collapse of budget airline Bonza, which also served regional locations, into administration in April. The ABC confirmed that Rex’s website was no longer taking bookings for flights between metropolitan areas on Tuesday. Flights on the carrier’s domestic trunk routes between nine capital cities, including Hobart, Perth, Sydney, Brisbane, and Melbourne, were listed as unavailable.
A spokesperson from Rex Airlines stated that the company is in an ASX trading halt “pending making a material announcement” and refrained from further comments. When asked about the potential cancellation of services across its domestic trunk routes, the spokesperson said, “more detail will be forthcoming soon but at this stage, unfortunately, we cannot comment further.”
Transport Workers Union boss Michael Kaine expressed concern, stating that about 2,000 jobs were at risk, and mentioned that he had written to Rex regarding the situation.
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