Prolonged Lockdowns Dog Rex
Australia’s would be 4th domestic airline Regional Express (Rex) has warned that the continuing lockdown in NSW will add $3 million to its projected losses for the June 30 year.
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Regional Express Holdings Limited
Rex has its roots firmly in the bush and in regional Australia. Its tagline boldly affirms that ‘Our Heart is in the Country’.
Rex was established from a belief that the bush needs and deserves an air service of quality that provides good connectivity between regional centres and capital cities at affordable prices.
Rex seeks to fulfil these expectations. Since its formation, Rex has steered a course balancing the needs of regional communities for extensive and affordable air services and to be economically viable and sustainable.
That same vision now extends to domestic routes, as Rex brings a safe, reliable air service that is affordable to the domestic market.
ASX Code
REX
Sector
Transportation
Website
https://www.rex.com.au/AboutRex/OurCompany/regionalexpress.aspx
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News
Covid Flare-Up Wrecks Rex
Rex revealed on Wednesday that Victoria’s COVID-19 outbreak, which forced it to cancel dozens of flights in and out of Melbourne, has ended its hopes of breaking even this financial year.
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Regulatory Turbulence Grounds Rex Shares
Shares in Regional Express are in a trading halt after the corporate regulator hit the regional airline with a ban on using short-form fundraising documents for a year after censuring Rex for a continuous disclosure breach.
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Rex Buys Ticket To Recovery With Boeing Fleet Expansion
Singapore controlled regional airline, Rex has stepped up its move into the domestic main trunk line jet routes where it will take on Qantas and Virgin. Rex yesterday told the ASX that it had signed Letters of Intent with two Lessors for the lease of six Boeing 737-800 NG aircraft.
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Virgin, Rex Ramp Up Bailout Pleas
Virgin Australia wants a bailout from Canberra, regional operator, Rex does as well, while Air New Zealand, which last week received a $NZ900 million capital injection from the Kiwi government, has started following its Australian rivals and slashing staff numbers.
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