Rex reports $4.9m full-year loss, extends suspension of services and stand-downs

Adelaide, Australia - January 4, 2013: REX (Regional Express Airlines) Saab 340 twin engined regional commuter aircraft taking off from Adelaide Airport.

Regional Express (Rex) has suffered another full-year loss, but the negative result wasn’t quite as bad for investors this time around.

The airline posted a statutory net loss after tax of $4.9 million in the 12 months to 30 June 2021, which is much less than the $19.4 million loss in FY20.

Total revenue fell 20 per cent FY21 to $256.2 million, while Rex’s passenger numbers fell 29 per cent.

Lim Kim Hai, executive chairman of Rex, said the airline performed “relatively well” in a full year of operations under the COVID-19 pandemic.

“I am pleased that we have even managed to improve on our performance over the prior year, which was only affected by COVID for a third of the year,” he said.

“The first half of the FY22 will continue to be dominated by rolling lockdowns and border closures.

“It is possible that the second half will be struck by further waves of infection given the experience of other highly-vaccinated countries. As such the outlook for the year is highly uncertain.

“On behalf of the entire passenger airline industry in Australia, I wish to put on record our vote of gratitude to the federal government without whose assistance all passenger airlines in Australia would certainly have entered administration.

“Its continued support whenever new crisis hit the industry will ensure that all the airlines would have their infrastructure intact to be ready for the recovery when it comes.”

A day after revealing its full-year results, Rex announced that, due to the ongoing uncertainty around when border restrictions in NSW and Victoria will lift, the airline was “left with no option” but to extend the suspension of its domestic services and reduction of its regional services up until 10 October 2021 to provide some time for the advanced sale of tickets.

“This will also mean an extension of the stand-down period for staff,” Rex said in a statement.

“It was originally anticipated that stand-downs would be at least until 12 September 2021. However, current conditions now deem it necessary for stand-downs to continue until at least 10 October 2021.

“The Rex board and management committee remain optimistic that demand for travel will be strong post lockdowns and border closures. We are committed to ensuring Rex remains agile and ready to respond when flying resumes.”

Featured image source: iStock/Ryan Fletcher

Latest News

  • Aviation
  • Travel Agents

Webjet relaunches partnership with AirAsia with a huge Asia flights sale

Online travel agency Webjet has have relaunched their partnership with AirAsia with a huge Asia flights sale, available until 2 June. To give customers a greater breadth of choice and price point, hundreds of new flight options to Aussie favourite destinations have been added, including Bali, Kuala Lumpur and Bangkok via AirAsia, AirAsiaX, Thai AirAsia […]

  • Luxury

Why luxury clients are opting for immersive experiences over material items

The Luxury Travel Collection’s (LTC) inaugural business owners Soiree took place on Hayman Island last week. The event saw luxury leaders gathering to find out more about the key trends shaping the industry. The Immersion Day, held on Thursday 16 May 2024, followed the growing luxury client trend of valuing immersive experiences over material items. […]

  • Conferences

Empowering underserved communities: Expedia Group’s drive for more inclusive travel

Expedia Group has used the EXPLORE conference at the Aria Resort in Las Vegas to highlight initiatives that empower underserved communities worldwide.   In a groundbreaking move towards fostering diversity and inclusion within the travel industry, Expedia’s Global Social Impact and Sustainability Team is dedicated to shaping a travel landscape that is safe, welcoming, and accessible […]

  • Cruise

P&O rescues Rotary volunteers after collapse of Air Vanuatu

P&O Cruises Australia has answered a plea for help from a group of young Australian Rotary volunteers, stranded in Vanuatu following the collapse of Air Vanuatu. The students, many of them teenagers from Albury, NSW, were volunteering for a youth project run by the Hive Rotary Club Australia when the airline abruptly cancelled all flights, […]

  • Destinations

Intrepid continues expansions with launch of first DMC in Jordan

Intrepid has increased its presence in the Middle East with the opening of its first destination management company in Jordan. Based in Amman, the local team will operate Intrepid’s range of nine experiential small group tours in Jordan from this summer, with a view to expanding the range for 2025 and beyond. Zina Bencheikh, managing […]

  • Appointments

Minor hotels appoints Puneet Dhawan to key Asia role

Global hotel owner and operator Minor Hotels has appointed Puneet Dhawan as head of Asia as the group plots its growth in Asia and India. From July, Dhawan will be responsible for the performance of all Minor Hotels properties in Asia, working in close collaboration with the Minor Hotels senior leadership team and will report […]

  • Appointments

Abercrombie & Kent and Crystal appoint Evon Ler to director of sales, Asia

Abercrombie & Kent Travel Group have announced that Evon Ler will join them in the new role of director of sales, Asia. She will work closely with Tony Archbold (VP, Sales, APAC, Crystal) and Susan Haberle (VP, Sales & Partnerships, APAC, A&K) with trade support across the region. Ler comes to the A&K family with more […]