Rex Airlines enters trading halt after Deloitte reportedly called in
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The news: Regional Express Holdings has entered a trading halt on the ASX, after a media report claimed the regional airline has appointed Deloitte's restructuring services.
The numbers: Rex shares last traded at $0.565, having dived nearly 50% over the last 12 months.
The context: On Friday, The Australian reported that Rex had appointed "a turnaround team from Deloitte" following the departure of the airline's executive chair and shareholder Lim Kim Hai last month.
The report said that the Deloitte team is being led by Sal Algeri and Richard Hughes, who worked on the recovery of Virgin Australia after the airline entered voluntary administration in 2020.
The source: ASX announcement
