Mar 14, 2023
Jets power up profit at Rex with increasing profitability
Home » News » Jets power up profit at Rex with increasing profitability Regional
Home » News » Jets power up profit at Rex with increasing profitability
Regional Express, Rex has announced its unaudited management accounts for December have continued to show profitability for its domestic Boeing 737 jet operations.
It is reporting a Profit Before Tax (PBT) of $4.0 million improving from the $1.9 million in October and $2.8 million in November.
It's the fourth consecutive month that Rex's domestic jet operations have been overall profitable since the jet operations resumed in February 2022.
The news wasn't so good for the airline's regional Saab 340 operations.
They were still loss-making at a PBT level in December, which Rex blames on "Qantas’ continued its predatory behaviour."
The entire Rex Group showed an operational profit for the third consecutive month, with the underlying PBT for December coming in at $3.7 million, the highest since COVID.
PBT for the months of October and November were $0.8 million and $3.1 million respectively.
Rex is Australia's largest independent regional and domestic airline operating a fleet of 61 Saab 340 and seven Boeing 737-800NG aircraft to 58 destinations throughout all states in Australia.