Regional Express has agreed to pay a A$66,000 ($51,000) fine, in relation to charges by the Australian Securities and Investments Commission (ASIC) that it failed to disclose plans for domestic operations through appropriate channels last May. ASIC is Australia's integrated corporate, markets, financial services and consumer credit regulator. In a disclosure to the Australian Securities Exchange (ASX) dated 18 May, Rex said it received an ASIC infringement notice alleging it contravened section 674(2) of Australia's Corporations Act on 11-12 May 2020. The subsection stipulates that ASX-listed companies must lodge material information with the bourse prior to informing the public. The company says in the statement: "Rex maintains the position that it did comply with those obligations at all times and will continue to comply with these disclosure obligations. "Be that as it may, Rex has elected to comply with the infringement notice and pay the penalty of A$66,000 on a no-admissions basis." Under the act, this is not an admission of liability, Rex states, and cannot be regarded as a finding that the company has contravened the act. Furthermore, ASIC cannot take civil or criminal proceedings against Rex for the alleged contravention. Rex's plans to expand into domestic operations first emerged when deputy chairman John Sharp discussed them in an interview with local media Australian Financial Review, published on 11 May 2020. ASX then placed Rex in a trading halt on 12 May, before Rex addressed the matter in an ASX announcement dated 13 May. In relation to that, ASIC announced on 16 December a one-year restriction on Rex's fundraising, effective until 15 December 2021. During this time, the company cannot rely on reduced-disclosure rules and must issue a full prospectus to raise funds. Rex said on 17 December that it did not anticipate any other fundraising in 2021, and ASIC's restrictions do not impede its agreement with PAGAC Regulus Holding for A$150 million funding meant for its domestic operations, which on 1 March launched according to plan.

Lufthansa Technik Shenzhen (LTS) is converting a warehouse to expand its repair capabilities amid an air traffic recovery in China. The conversion of a bonded warehouse, which is scheduled to be completed in June, will provide additional repair shop space and a climate-controlled material storage facility, the German-based MRO group says. As a result of the expansion, LTS will be able to service more than 70 Honeywell components installed on Airbus A350s, the MRO group adds, noting that the Chinese site is currently the only licensed repair provider for that equipment in Asia-Pacific. In co-operation with TAT Technologies, LTS will repair and overhaul heat transfer components used in bleed air, environmental control and fuel inerting systems. Additionally, LTS intends to improve its capabilities for Meggitt fire and safety solutions, fuel systems, valves and sensors as an OEM-approved repair centre. The MRO group says that LTS "has resumed its investment into new capabilities" as a result of a recovery in China's air transport market.

Nok Air has submitted its business rehabilitation plan to Thailand's Central Bankruptcy Court, meeting the May deadline after securing two one-month extensions allowable. "As it is a public holiday, the planners submitted the business rehabilitation plan to the official receiver today (17 May)," the low-cost carrier says in a same-day disclosure to the Stock Exchange of Thailand (SET). The official receiver will set a date for a creditors' meeting where the plan will be put to a vote. In a separate, same-day filing to the SET, Nok says it will submit half-yearly financial statements instead of quarterly. It is exempt from reporting quarterly financial statements, in accordance with Thailand's Securities and Exchange Commission rules. The Central Bankruptcy Court accepted Nok's application for business rehabilitation on 30 July and approved it for the process on 4 November and appointed planners to prepare the rehabilitation plan. Nok was given three months from 15 December to file the plan by 15 March. That deadline was postponed to 15 May after two one-month extensions.