Regional Express, or Rex, raised $150 million in November 2020 to lease old Virgin Australia Boeing 737s, launch flights between Sydney, Melbourne and Brisbane, and capture 37 per cent of the domestic aviation market by 2025.
More than two years in, Rex has 6 per cent of the market.
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Joe Aston is the founder of Rampart and the best-selling author of The Chairman’s Lounge: The inside story of how Qantas sold us out. From 2012 to 2023, Joe helmed The Australian Financial Review’s Rear Window column. Email Joe at hello@rampart.news
