Although it’s been over a year since the first meeting of creditors of the failed Rex airline was held, it’s still not clear how much creditors—which include Australian taxpayers after the federal government decided to provide financial support—can expect to recover as the operation is taken over by American aviation company Air T.
While analysts at the time attributed the company’s woes to its poorly executed entry into capital city markets, positioning it as a rival to Qantas, Virgin and Jetstar, administrators EY blame entirely different factors.
