Sunshine Express - The Deal is Off!
In a very short press release Sunshine Express Airlines announced yesterday that the proposed merger with Regional Express (Rex) is off.
NO SUNSHINE FOR REGIONAL EXPRESS
Further to a Media Release on 14 August 2006, Sunshine Express Airlines announced
today that the proposed merging of the airline with Regional Express will not proceed.The proposed acquisition was based on terms of an original draft agreement between the two parties. However, following further negotiations, Sunshine Express no longer considers that its primary purpose behind the arrangement would be achieved - that is, that all parties would benefit from the merger. In addition, the Board of Sunshine Express was not satisfied that the interests of the airline and its staff would be entirely protected.
What that means for the future of the Sunshine Express services to Hervey Bay and Maryborough is yet to made clear.
