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Australia’s regional carrier, REX, to break even as nation’s domestic air travel spikes
May 10th 2021
Australian airline group, Regional Express (REX), forecast it would break even in 2020-2021 in a recovering domestic market. Read More » In a regulatory filing to the Australian Securities Exchange (ASX), REX said its regional operations appeared to be "slightly loss-making at the current demand levels", but it was "hopeful" demand would improve in the months ahead and return the company to profitability. REX’s regional capacity was at 35% of pre-COVID-19 levels. "On the regional market front, the overall demand is back to 60% of pre-COVID, but the recovery is uneven across the [Australian] states," it said. The company reported a net loss of A$19.4 million (US$15.2 million) for 2019-2020.
