iscover
The carrier will increase its Sydney–Istanbul services from four to five per week in mid-June this year, then six in October, and finally daily from 12 January. Flights will be operated using A350-900s via Kuala Lumpur, shifting to non-stop next year when longer-range aircraft arrive.
The FIFO and charter operator, which had 76 aircraft in revenue service as of 31 December, posted a statutory pre-tax profit of $41.3 million, up $3.6 million or 9.5 per cent, with 58,362 total flight hours, up from 50,793. 97 per cent of these hours were flown under long-term contracts.
Speaking to Patricia Karvelas on ABC News, Minister King said she had to “treat every bidder equally, which is why they need to work through the administration”. It comes after the government indicated it could nationalise Rex if a commercial buyer is not found.
The carrier says it has received CASA approval for its pet procedures, but regulators are moving slower than expected on the policy first announced almost a year ago.
The daily service, to launch on 20 June, will give Sydney Airport six Hong Kong flights per day in total between three carriers, and a 20 per cent boost in seat capacity over current levels. It will likely use Hong Kong Airlines’ A330-300 aircraft.
The announcement on Tuesday night, which comes after $80 million in funding and the purchase of $50 million in Rex debt from financier PAG, is the clearest signal yet that the airline could become the first to be owned by an Australian government since Qantas was privatised in the 1990s.
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