Rex Airlines' collapse led to a 95% spike in Australian domestic airfares, with Qantas and Virgin now dominating the market.

Since Rex Airlines collapsed in July, Australia's domestic airfares have soared by up to 95%, with Qantas and Virgin now controlling 98% of the market. The Australian Competition and Consumer Commission (ACCC) reported that the Adelaide to Melbourne route saw a 95% price increase to $296, while the Melbourne to Gold Coast route rose 70% to $432. The government has offered Rex an $80 million bailout to maintain regional services, but concerns remain about the long-term stability of the aviation sector.

November 12, 2024
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