Speculation continues to mount this morning after budget airline Rex suspended share trading on the ASX yesterday.
The ASX announced Rex had requested trading be halted until the market opened on Wednesday, July 31.
It’s understood the airline plans to make an announcement relating to a news article published on the weekend.
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However, it’s left investors on tenterhooks, while Prime Minister Anthony Albanese told the ABC he and Transport Minister Catherine King had sought more information from the airline.
He said Rex remained an “important airline”, especially after the collapse of budget carrier Bonza.
“Rex is particularly important for regional communities and there are a range of communities where Rex is the only airline serving some of those destinations,” he said.
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Rex announced an expansion into major destination routes in 2020, with 737 flights to capital cities including Sydney, Melbourne, Adelaide, and Brisbane.
It announced a new Adelaide-Perth route earlier this year.
The Transport Workers Union estimated 2000 jobs had been “thrown into limbo” by the trading halt.
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