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Rex Airlines grounds all Boeing 737 jets immediately

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Australia’s Rex Airlines has suspended all Boeing 737 flights with immediate effect

The airline has announced they will also be reducing the frequency of its regional flights, as city lockdowns and state border closures continue to impact the Australian air travel market.

Rex’s entire Boeing 737 fleet has been grounded, along with its new network of flights linking Sydney, Melbourne, Canberra, the Gold Coast, and Adelaide.

Limited regional services will remain in place

Rex will continue to keep communities connected by continuing regional flights, but see reductions in frequency, in some cases with only a handful of flights per week.

“Domestic and Regional routes on Rex’s network in New South Wales, Victoria, South Australia, Queensland and Tasmania will be either temporarily suspended or greatly reduced until the end of the State Government imposed border closures and/or lockdowns,”

the airline said in a media statement issues this evening.

The airline has reassured passengers that it will continue to offer a refunds

Rex has been famous for offering customers a guarantee on travel if travel is impacted due to COVID-19.

This includes bookings made through a travel agent as well as directly with Regional Express via its website.

“Rex’s COVID Refund Portal ensures that our passengers receive their money in the bank within 2-3 days of making an eligible refund request through our automated portal,”

said Rex Deputy Chairman John Sharp.

Rex launched flights between major Australian capital cities at the beginning of 2021, as the pandemic pressure slowly decreased on the aviation sector and the Australian travel market restarted.

Rex also found a gap in the market, after former budget carrier Tiger Airlines shut down.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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