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Australia’s Regional Express posts second consecutive full-year loss
August 25th 2022
Regional Express (Rex) has recorded a net loss of A$46.1 million (US$31.8 million) for the 12 months to June 30. Read More » Revenue rose 25%, to A$319.2 million, Rex said in a regulatory filing to the Australian Securities Exchange. The negative result was “mainly attributable” to the grounding of its 737-800s for four months due to COVID-19 related border closures, Rex said. Executive chairman, Lim Kim Hai, said operational statistics for the current financial year suggest the airline has turned the corner. “We are continuing to see very strong bookings in August with the past week showing a 50% increase over the same period in July,” he said. “Barring more external shocks, I am confident the group will return to good profitability in fiscal year 2023.”
