REX Reports Strong Performance In August

The airline, which previously recorded a full-year after-tax loss of $46 million on revenue of $319 million, has credited its successful turnaround to the high volume of passengers flying between Sydney, Melbourne, and Brisbane.

Late in August, Rex received delivery of a second Boeing 737-800NG, a move that Executive Chairman Lim Kim Hai said would allow the company to raise capacity in response to rising demand.

Mr. Lim explained that the airline is in talks with lessors to acquire two additional aircraft as soon as possible, in addition to taking delivery of a seventh Boeing 737-800NG, which will allow the airline to “put on more capacity to mop up” the demand for its services.

As the fiscal year progresses, “our turnaround now has great momentum as our key KPIs continue to improve month by month.”

Revenue from August shows that our new partnerships with travel agency groups and corporate clients are beginning to deliver the desired results. As the new agreements consolidate, we anticipate even greater performance in the months ahead.