Rex releases first half 2015 results

first_imgThe Regional Express (Rex) Group has announced its first half FY14/15 results with its Profit Before Tax (PBT) increasing 10 per cent to AUD$5.5 million on a turnover of AUD$129.8 million.Despite having flat passenger revenue the Group managed to have lower operating costs aided by the repeal of the Carbon Tax.Fuel cost was also lower on a hedged price that would see AUD$2 million of savings for the full financial year.Rex chief operating officer Neville Howell said, whilst passenger demand was seen to stabilise in the first half of the financial year, the Group remained cautious on the second half.“The sharp fall of oil prices could have a negative impact on the resource industry, especially the energy sector. The early weeks of the second half did record a softening of passenger demand again. On the other hand, the new Queensland routes which began on 1 January 2015 are expected to perform well,” Mr Howell said.“The Board remains optimistic that the net result of the headwinds and tailwinds will still be moderately positive for the Group and is committed to paying a final dividend if this materialises.”Regional Express (Rex) is Australia’s largest independent regional airline operating a fleet of more than 50 Saab 340 aircraft on some 1,300 weekly flights to 52 destinations throughout Australia.Source = ETB Travel News: Lewis Wisemanlast_img read more