Regional airline Rex is the most profitable listed airline in Australia, reporting a record pre-tax profit of $35.1 million on ASX today.
Regional Express executive chairman Lim Kim Hai said he was humbled and blessed by the airlines increase in profit by 45.6 percent to end the financial year, when airlines like Singapore Airlines, Lufthansa and Qantas reported profits plunging more than 60 percent and losses.
“The outcome made Rex the most profitable listed airline in Australia,” Mr Kim Hai said.
The record result included a 14.5 percent rise in revenue to $273.1 million, rounding out with after tax profits over $25 million.
Gaining the Ambulance Victoria contract and improvements with the Pel-Air and Air Link division bumped the result up, according to Mr Kim Hai, who was still cautious for the current financial year.
Source = e-Travel Blackboard: K.W