Turbulence at Rex Airlines appears to be deepening after the carrier requested a trading halt following speculation it would appoint consultants to turnaround its financial woes.
On Monday, the ASX announced it had suspended trade in the airline’s shares after it had requested the move pending an announcement related to a news article published on Saturday, understood to be a report in The Australian that the airline had appointed turnaround experts from Deloitte.
Rex’s request suggested an imminent related announcement, with the halt in place until the commencement of trade on Wednesday.
The prime minister, Anthony Albanese, said an airline running into trouble was a weekly occurrence in the tough, global industry.
