October 8th 2024.
Calls are being made for the federal government to intervene and support the struggling airline Rex, which is currently searching for a new buyer. The company has been facing financial difficulties and entered voluntary administration in July.
According to a recent YouGov poll, a majority of Australians, 71%, believe that the government should take action to ensure Rex can continue providing essential regional air services. Only 10% of the respondents disagreed with this statement, while 19% were undecided.
The poll also revealed that 75% of people think the government should take an equity stake when bailing out companies like Rex. Additionally, 74% of respondents support the establishment of an independent commission to set standards for jobs and services in the aviation sector.
The Transport Workers Union has welcomed these results and stated that the government has the support of the public to invest in Rex. The union's national secretary, Michael Kaine, emphasized the importance of Rex to regional Australia, not just in terms of employment but also for businesses, tourism, healthcare, and community services.
EY Australia, the administrators for Rex, have been searching for a new buyer since the company's collapse. They have successfully obtained an extension until November 25 from the Federal Court. While the federal government has guaranteed bookings for regional flights, there has been no announcement of a further bailout package.
Rex's debt currently stands at around $500 million, and the company has been selling assets in addition to searching for a new buyer. As the search continues, the government is facing pressure to step in and ensure the future of the airline.
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