News
Regional Express posts US$9.4 million fiscal year profit
August 31st 2023
Australia’s Regional Express (Rex) has recorded a net profit of A$14.4 million (US$9.4 million) for the 12 months to June 30 against a net loss of A$46.1 million in its previous financial year. Read More » Revenue increased 101%, to A$642.8 million, Rex reported in a regulatory filing. Rex executive chair, Lim Kim Hai, said the legacy effects of COVID-19 continued to “smash the aviation industry in fiscal year 2023 manifesting itself in acute pilot shortages and severe dislocation of the supply chain”. Lim said Rex's prospects for the current year “seem much brighter across the group” with the airline to receive its eighth and ninth 737-800s by September 30. Another of the type is to join the Rex fleet in 2023 or 2024.
