Inside the boardroom civil war that brought Rex to its knees
Bad blood turned executives at the carrier against one another – just as its major lender was trying to sell the airline’s assets to Bain Capital.
Rex’s demise came slowly at first – then suddenly. An endless battle for control of the regional carrier’s board. A Singaporean businessman and a National Party statesman. And now, another collapsed airline.
Documents and emails obtained by The Australian Financial Review – and interviews with key players – reveal an all-out war at the company’s highest levels, played out even as lenders grew increasingly restless and placed Rex, as Regional Express is better known, into administration.
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