The Regional Express (ASX:REX) share price has fallen after fresh Qantas challenge

Regional Express Holdings Ltd (ASX: REX) is continuing its aggressive push out of the regions and into the cities. The company announced on its website today it would challenge Qantas Airways Limited (ASX: QAN) with a new Sydney to Canberra route starting at $99.

At today’s close of trading, the Regional Express share price was down 3% trading at $1.58. Shares in Qantas, meanwhile, were trading 1.34% lower at $5.14. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.5%. All ASX travel shares are down at present, as pessimism continues to linger over COVID restrictions.

Let’s take a look at the smaller airline’s…