Rex scrambled for cash after ‘bewilderingly bad’ sales, says ASIC

In an unexpected turnaround, Lim – who, along with three fellow former Rex directors, had denied ASIC’s claims surrounding a statement released to the ASX in February 2023 – gave up the fight on Wednesday and agreed to accept penalties.

The Flying Kangaroo will operate daily flights on the route between 25 October 2026 and the April school holidays, before dropping to four weekly flights until the end of August 2027, adding a total of 40,000 seats.