News
Rex Airlines forecasts return to full-year 2022-2023 profit
November 28th 2022
Regional Express (Rex) forecasts a full-year profit for 2022-2023, the company told shareholders at its annual general meeting last week. Read More » The Australian domestic carrier said jet operations achieved a profit before tax of A$2 million (US$1.33 million) in October. Its Saab turboprop flying remained loss-making for the month, but is expected to return to profitability in the third quarter. The airline group will “make up” for the accumulated losses, incurred in the first four months of the current financial year, and will emerge profitable for the entire year, it said. “The world economic environment remains bleak with high inflation, interest rates and fuel prices giving rise to the possibility of recession,” Rex said. “Nevertheless, the Rex board is cautiously optimistic the group will be profitable in fiscal year 2023.”
