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Australia Regional airline REX suspends routes as coronavirus impacts bottom line

23:52  19 march  2020
23:52  19 march  2020 Source:   skynews.com.au

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  Qantas to slash international capacity by nearly 25%, ground most A380s Qantas to slash international capacity by nearly 25%, ground most A380sIt will now ground the equivalent of 38 planes, up from 18 announced last month, and its CEO will take no salary for the remainder of the financial year ending June 30 and management will receive no bonuses. All staff are being asked to take paid or unpaid leave. It is also cancelling plans for a A$150 million ($98.73 million) off-market share buyback to preserve cash.

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Regional airline Rex faces uncertain future after halting trading. Regional airline Rex has halted trading and Rex has halted trading as it struggles with the impact of coronavirus .Source:istock. Australia’s biggest regional airline Rex has entered a trading halt and called on federal government

Regional airline REX will suspend three routes as part of a 45 per cent reduction in capacity.

The company was tipped to reduce services by 25 per cent after entering a trading halt earlier this week but had to take more drastic action as the coronavirus outbreak impacted their bottom line.

The airline will no longer fly to Port Augusta or Armidale and plans to suspend services to Ballina and Kangaroo Island later in the year.

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Queensland businesses to get $4 billion boost as thousands lose jobs .
The Queensland government has releases a $4 billion stimulus package to cover the state's health needs and relieve financial pressure on households and businesses amid the coronavirus pandemic. Deputy Premier Jackie Trad said the package includes a $1.2 billion to double Queensland's intensive care capacity and triple its emergency department capacity. That money will also be used to expand fever clinics on demand and rapidly deploy hundreds of hospital beds if and when they are needed. https://twitter.com/ShannonMM9/status/1242270746279202816Community testing and contact tracing will be extended.

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