Rex Airlines is still flying high, announcing a return to profitability in September 2022 for the first time since the domestic carrier resumed operations in February this year after shutdowns due to COVID-19 border restrictions in 2021.
Of the results, Rex Executive Chairman Lim Kim Hai said: “To turn in a profit so soon after the restart of operations is truly unprecedented in the airline world.”
The announcement comes after Rex reported a boost to its bottom line in August 2022 with a month-on-month increase of 25 per cent in passenger numbers and 38 per cent in revenue bookings.
He said the airline had predicted that Rex’s agreements with corporates and travel agencies at the end of the financial year would quickly translate into strong passenger and revenue growth.
Mr Lim added that in response to the strong demand, Rex is looking to add two Boeing 737-800NG aircraft to expand its domestic jet services.
“True to form, our domestic jet network passenger numbers for the first three months of this financial year grew by 60 per cent, 34 per cent and 77 per cent respectively compared to June 2022,” Mr Lim said.
“Revenue growth has been stronger at 84 per cent, 47 per cent, and 137 per cent for the same three months, suggesting significant yield improvements.
“Encouragingly, October 2022 appears to be even stronger than September 2022 with passenger numbers 16 per cent higher for the first half of the month when compared with the previous month, while revenue increased 35 per cent on 13 per cent more passengers flying.”
To find out more, visit rex.com.au
