Rex Airlines has been placed on a trading halt on the ASX following rumours of continued strife and internal tension.
Confirmation of the temporary suspension was shared in an announcement made to the ASX on Monday at 9.50am, with the message directly referencing a news report made in The Australian’s Margin Call column that reported tensions among its directors and said Rex had employed financial services firm Deloitte for advice.
The halt will remain in place until Rex announces a reversal.
“(Rex) requests the securities of the company to be placed in an immediate trading half pending a material announcement in relation to a news article published on Saturday, 27th July, 2024,” the statement said.
“Rex advises the trading halt is to last until the commencement of trade on Wednesday, July 31 or until the announcement mentioned above has been made.”
The regional carrier Rex Airlines has struggled to turn a profit since the Covid pandemic, raising concerns that it might face a fate similar to budget airline Bonza, which entered voluntary administration in April 2024.