Rex Airlines and four of its directors have been sued for allegedly misleading Australian investors.
This comes as the debt-ridden airline is undergoing an administration process, with its future shrouded in uncertainty.
Rex Airlines Sued for Allegedly Misleading Investors
Australia’s corporation regulator ASIC alleged Rex failed to disclose a profitability downgrade in February 2023 despite being aware of it.
Rex Airlines Boeing 737 planes lay idle at Tullamarine Airport in Melbourne, Australia, on July 31, 2024. William West/AFP via Getty Images
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
