Reports 3rd Qtr Profit Reduction of 6%
Wednesday, 20 May 2009

Regional Express Holdings Limited (Rex) announced a group net profit before tax for Q3 FY09 of $7.5 million, a decrease of 6.3% over last year.

In comparison to the same period in FY08:
• Group revenue reduced by 7.8% to $57 million;
• Passengers carried reduced by 19.8% to 292,386;
• Freight volumes reduced by 25%
• Capacity (Available Seat Kilometres) fell 15%
• Passenger load factor reduced 4.1% points to 63.2%

The year to date profit before tax increased by 1.9% to $21.9 million. The company has advised that its net earnings for the full financial year could be up to 10% below that of last year.

Regional Express (Rex) is Australia’s largest independent regional airline operating a fleet of 40 Saab 340 aircraft on some 1,300 weekly flights to 24 destinations from Sydney, Melbourne and Adelaide. The Rex Group comprises Regional Express, air freight and charter operator Pel-Air Aviation and Dubbo based regional airline Air Link, as well as the pilot academy Australian Airline Pilot Academy.