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Rex Airlines collapsed in 2024 due to pilot shortages and financial strain, with creditors likely recovering little if a U.S. takeover fails.
Rex Airlines collapsed in mid-2024 due to a global pilots shortage, supply chain issues affecting engine maintenance, and difficulty securing flight frequencies on competitive routes, according to an EY report.
Its attempt to compete with major carriers using jet aircraft failed, leading to route cancellations not included in a proposed takeover by U.S. firm Air T. If the sale proceeds, government debt will be restructured immediately; if not, the federal government—having provided at least $130 million in support—would recover 35 to 63 cents on the dollar, while other creditors likely receive nothing, and priority employee creditors would get 10% of claims.
Rex Airlines colapsó en 2024 debido a la escasez de pilotos y la tensión financiera, y los acreedores probablemente se recuperarán poco si falla una adquisición estadounidense.