News
Australia's Rex forecasts full-year operating loss caused by pilot shortage, supply chain issues
June 22nd 2023
Regional Express (REX) expects to report an operating loss of A$35 million (US$24 million) for the 12 months to June 30, a turnaround from a projected full-year operating profit it predicted in February. Read More » “The global shortage of pilots and engineers and the supply chain shocks post-COVID have disrupted Rex’s network. They have forced Rex to make significant reductions to its flight schedules in the last couple of months to match the need for aircraft, pilots and engineers to what is available,” Rex said. “Furthermore, business travel in May and June has significantly reduced largely due to corporate travel budgets being exhausted by exponential increases in international fares.” Rex posted a net loss of A$46.1 million in 2021-2022.
