Australian financial regulators are suing bankrupt airline Rex and four of its directors alleging the carrier filed misleading stock market financial updates.
Australian airline Rex has entered voluntary administration, and the carrier’s narrowbody jet unit appears likely to be a casualty of its restructuring.
Rex has signaled it is preparing a major announcement, as speculation grows it may make significant changes in an attempt to improve its financial position.
After getting approvals to ramp up flying into Australia, Turkish Airlines has held talks with Australian domestic carrier Rex about forming a new partnership.
While Australian domestic carrier Rex has secured the lease deals it needs for its short-term fleet growth, it is also considering adding further aircraft.
Australia’s Competition and Consumer Commission says slot allocation at Sydney Airport must be reformed in order to increase competition in the domestic market.
