It would make some sense for this to be happening if REX had a strong balance sheet coupled with a mindset of a challenger/disrupter.
Whilst I am not familiar with the management, ownership nor culture, my interactions in recent years have felt like they were with a very staid, conservative "brown suit" style of business.
No doubt there will be turmoil in the weeks and months ahead as Qantas, perhaps a trimmed-down Virgin and now potentially REX all scramble to get their hands on a smaller number of passengers.
I can see the $200 million and the current surplus $9 million evaporating quite quickly.
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