Rex called in advisers in May, Westpac emerges as creditor

Regional Express Airlines asked EY to conduct a strategic review of its operations months before it slipped into voluntary administration, documents filed with the corporate regulator show.

Rex shares were suspended from trading on Monday and its board met on Tuesday night to appoint EY as voluntary administrators. The airline has stopped flying between capital cities and agreed to focus on its regional operations, where it is often the only air transport link.