News
Australia’s Rex narrows interim losses to US$2 million
March 5th 2024
Regional Airlines (Rex) has reported a net loss of A$3.2 million (US$2 million) for the six months to December 31 against net losses of A$16.5 million in matching 2022. Read More » Revenue rose 4.6%, to A$535.4 million, Rex said in a regulatory filing. Revenue for fiscal year 2023-2024 is forecast to be higher compared with the previous year from forecast improvements in Rex’s regular public transport, charter and aeromedical flying as well as more enrolments of foreign students at its pilot training school, the domestic carrier said. Rex did not provide earnings guidance for 2023-2024, citing difficulties with predictions due to escalating costs, including fuel. “The board will not be providing any profit guidance for FY24 because of the uncertain global economic outlook,” Rex said.
