iscover
The US planemaker lost US$11.8bn in 2024 to take its total losses since 2019 to more than US$35bn.
The proposed three-times weekly service was set to return on 22 June but has now been suspended “indefinitely” due to low forecasted demand.
It marks the first aggressive move to market to European destinations since the airline pulled out of flying to the hub airports of Hong Kong in 2020 and Abu Dhabi in 2017, before entering administration in 2020.
The application, which had been filed by apparent creditor Wealth Creation, was on Wednesday dismissed with the consent of both parties, with no orders made as to costs. It comes after Australian Aviation exclusively reported on the application earlier this month.
Transport Minister Catherine King argued creditor PAG could have collapsed the airline “at any stage” and insisted the purchase was also necessary to make a second attempt to find a buyer.
The move will see the Commonwealth buy out the remainder of the money owed to PAG, the Asian firm whose investment allowed Rex to launch capital city 737 flights in 2021.
PROFILES
Raising the Bar in Commercial Laundry: How Rinse & Repeat Is Redefining Service for Aviation
Raising the Bar in Commercial Laundry: How Rinse & Repeat Is Redefining Service for Aviation
UPRT Australia- Transforming Aviation’s Greatest Risk into Its Greatest Asset
UPRT Australia- Transforming Aviation’s Greatest Risk into Its Greatest Asset
