Rex’s profit guidance following sterling start to new financial year

©Rex

Rex has reported record-high passenger numbers and revenue across both its domestic and regional networks in the first month of the financial year 2023 (FY2023).

On the domestic front, July’s pre-audited base passenger revenue was at AU$13.6 million, almost double that of the monthly average of the prior three months at AU$6.87 million. Load factor was at 86% across the entire domestic network.

On the regional routes, July’s revenue and passenger numbers were almost identical to that of July 2019, the latest comparative month before the COVID-pandemic, with about 4% less flying. The revenue per flight and the load factor have both improved by 8% and 7% respectively.

Commenting on these astonishing results, Rex’s Executive Chairman, Lim Kim Hai said, “Our phenomenal performance can be attributed in large part to the tie-ups we signed in the prior few months with Travel Agency groups and corporate accounts, as announced in our media release of June 24, 2022. I have every expectation that our numbers will continue to grow sharply over the next few months since July has seen only 30% of the committed monthly passenger contributions from these tie-ups.”

Email Post to a Friend Email Post to a Friend