1. 83.9k
    Posts

    Further to the profit guidance provided by Rex on 9 June 2021, which forecast a profit before tax
    loss of $15m for the Financial Year (FY) 2021, Rex is now giving revised profit guidance based
    on up-to-date information.
    The lockdowns that eventuated in New South Wales in June and the ensuing border closures
    have significantly impacted revenue. Furthermore, no measures were taken initially to mitigate
    the losses as the lockdown was perceived to be temporary and of short duration. Consequently,
    the losses for the month of June increased substantially and Rex now believes that the statutory
    losses for the full FY21 will be $18m.
    Rex will be implementing temporary stand downs within the Company after consultation with the
    stakeholders. The number of such stand downs will be released at the end of the week after the
    consultations.
    Rex will be releasing more details when it releases the audited financial reports on 31 August
    2021, including its view on the outlook for aviation in Australia in the months ahead.
    This announcement is authorised by Mr Lim Kim Hai, Executive Chairman, Regional Express
    Holdings Limited.
    Rex is Australia’s largest independent regional and domestic airline operating a fleet of 60 Saab
    340 and six Boeing 737-800NG aircraft to 61 destinations throughout all states in Australia. In
    addition to the airline Rex, the Rex Group comprises wholly owned subsidiaries Pel-Air Aviation
    (air freight, aeromedical and charter operator) and the two pilot academies, Australian Airline Pilot
    Academy in Wagga Wagga and Ballarat.

    courtesy of Bell Direct
    ==============================================================================

    DYOR

    i do not hold this share

  2. 83.9k
    Posts

    REX’S PROFIT GUIDANCE FOLLOWING STERLING START TO NEW FY
    Rex today announced record high passenger numbers and revenue across both its domestic and
    regional networks in the first month of the Financial Year 2023 (FY2023).
    On the domestic front, July’s pre-audited base passenger revenue was at $13.6m, almost double
    that of the monthly average of the prior three months at $6.87m. Load Factor was at 86% across
    the entire domestic network.
    On the regional routes, July’s revenue and passenger numbers were almost identical to that of
    July 2019, the latest comparative month before the COVID pandemic, with about 4% less flying.
    The revenue per flight and the load factor have both improved by 8% and 7% respectively.
    Commenting on these astonishing results, Rex’s Executive Chairman, Lim Kim Hai said, “Our
    phenomenal performance can be attributed in large part to the tie-ups we signed in the prior few
    months with Travel Agency groups and corporate accounts, as announced in our media release
    of 24 June 2022. I have every expectation that our numbers will continue to grow sharply over
    the next few months since July has seen only 30% of the committed monthly passenger
    contributions from these tie-ups.”
    “With this in mind, we have decided to accelerate the introduction of further aircraft to our
    domestic fleet. Our 7th Boeing 737-800NG aircraft will enter service later this month and we are
    in advanced discussions to lease another two for later this year.”
    “Our great performance in the regional markets also validates our decision to stand our ground
    against Qantas, which flooded the market on marginal regional routes in an attempt to destabilise
    us. Not only did their plan not succeed, but we are now having record passengers and revenues
    on our regional network by concentrating on the larger regional routes in direct competition with
    them. Later this month we will commence servicing Melbourne-Devonport, breaking QantasLink’s
    monopoly on the route for the last 17 years and we intend to fly to other regional cities that are
    currently monopolised by QantasLink.”
    “These outstanding achievements are a timely reward to the Rex family as it celebrates its 20th
    anniversary today, and I would like to congratulate and thank each and every team member for
    their contributions towards our collective success.”
    “The last two decades could not have been worse for aviation in Australia – droughts, fires, floods,
    an oil price shock, worldwide pilot and engineer shortages, the Global Financial Crisis, COVID,
    an even more severe oil price shock – and yet, here Rex is, still standing tall. By the grace of
    God, the timely assistance from the Federal and State Governments, our dedicated staff, and
    most importantly, the support of the Australian people, Rex has not only survived but has
    emerged even stronger and bigger.”
    “Rex has made a vow to repay the people of Australia for keeping it afloat with the government
    support we received throughout COVID. We hope that we have started to repay this faith in some
    small ways by providing a service the travelling public can count on. We are particularly proud of
    our On Time Performance and low cancellation rates, which are in stark contrast to the total chaos
    and dysfunctionality of the other carriers with horror stories of planeloads of luggage being lost
    and passengers sleeping overnight on the floor at airports:

    “Our unparalleled reliability has resulted in many new passengers on top of the corporate and
    travel agency ones, and, barring further external shocks, has led us to believe that both our
    domestic and regional operations will be profitable this FY. This is quite a feat, considering that
    we only properly restarted domestic operations in February this year.”
    “Our results should be further boosted by the launch of our Frequent Flyer programme in the
    coming months as well as enhanced passenger and freight contributions from our expanding
    network. We also can look forward to larger enrolments at our pilot academies from international
    cadets as airlines start to ramp up strongly again.”
    “Rex is the only airline in Australia, and perhaps only one of five in the world that has not made
    an operational loss since 2003 up to COVID. Our best-of-class operations are without dispute.
    With such financial and operational prowess, we look confidently ahead in this FY as we turn the
    corner on these devastating COVID years.”
    This announcement is authorised by Mr Lim Kim Hai, Executive Chairman, Regional Express
    Holdings Limited.
    Rex is Australia’s largest independent regional and domestic airline operating a fleet of 61 Saab
    340 and six Boeing 737-800NG aircraft to 58 destinations throughout all states in Australia. In
    addition to the airline Rex, the Rex Group comprises wholly owned subsidiaries Pel-Air Aviation
    (air freight, aeromedical and charter operator), the Australian Airline Pilot Academy with
    campuses in Wagga Wagga and Ballarat, and propeller maintenance organisation, Australian
    Aerospace Propeller Maintenance.

    courtesy of Bell Direct
    ==============================================================================

    DYOR

    i do not hold this share

    i follow this company as an insight into our overall mining and energy industry ( with the FIFO workers )

    1 like
  3. 400
    Posts

    Technically, there is bullish crossover in MACD and Stochastic oscillator. Moving averages are rising.

    http://au.stoxline.com/stockau.php?symbol=rex&c=ax

    1 like
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