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Rex Q1 profit falls

written by australianaviation.com.au | November 25, 2009

SAAB_340_SYD_12JUL07_AMcLRegional Express has recorded a 22.9 per cent fall in net profit during the first quarter of the 2010 financial year as revenues fell during the three month period.

The airline recorded a net profit after tax of $3.7 million as passenger numbers fell by 12.9 per cent, while average fares were 1.8 per cent lower. Total revenue was down by 14.6 per cent to $56.9 million.

In an investor briefing presentation lodged with the Australian Securites Exchange, the company noted that its outlook remained positive, especially for its charter businesses, while it was also looking forward to possibly greater opportunities to increase its presence in Queensland after a decision on route licenses is made in the second quarter.

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