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AAP
AAP
National
Alex Mitchell

Rex misled with sky-high claims before $31.7m crash

Rex Lim Kim Hai ASIC Australia United States
A court has found Rex and its former executive chairman misled the market with a profit forecast. (Luis Ascui/AAP PHOTOS)

A regional airline breached core obligations when boasting profits were on the way before posting an eight-figure loss, says the watchdog which successfully pursued it in court.

The NSW Supreme Court found embattled regional carrier Rex misled the stock market when it claimed it would deliver a strong financial result in 2023, months before declaring a $31.7 million loss.

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