Rex Group achieves 2016/17 profit before tax of USD13.5m

    Regional Express (Rex) deputy chairman John Sharp provided (21-Nov-2017) the following highlights for the carrier’s operations and financial results FY2016/17:

    • Rex Group has managed to quadruple its operational profit before tax to AUD17.8 million (USD13.5 million);
    • The improvement was brought about by the modest recovery in passenger revenue from Rex’s traditional network, along with the contribution from Western Australia routes, lower fuel prices and slight improvement in the USD exchange rate;
    • Passenger numbers: +3%;
    • Yield: +3%;
    • Traffic and yield revenue benefit of AUD7 million (USD5.3 million);
    • Positive new developments in FY2016/17 included:
      • Commenced operations of new Sydney warehouse;
      • Completed acquisition of an aircraft painting hangar in Wagga Wagga;
      • Sale of all four Learjets previously used by Pel-Air for its Defence contract;
      • Completed first full financial year medivac operations from Singapore;
      • AAPA training business completed its first graduation of Vietnamese cadets. [more – original PR]