Aviation

Rex scraps break-even forecast for FY21, as Melbourne lockdown bites

Regional Express (Rex) has revised its interim profit guidance from last month, which forecast a break-even situation for the 2021 financial year.

In an update to shareholders, Rex said the latest COVID-related state border restrictions and lockdowns have “severely disrupted” the airline’s domestic and regional networks, forcing it to cancel a large number of flights to and from Melbourne.

This included Rex delaying the commencement of its Melbourne-to-Canberra service, which was due to begin yesterday, until Friday 18 June.

Rex is now forecasting a full-year statutory loss before tax of approximately $15 million.

In line with its COVID Refund Guarantee, Rex said it will be crediting the full value of the tickets of the cancelled flights to the credit card that was used to pay for the ticket for passengers who booked directly with the airline.

“Rex has also sent advisories to travel agents to request refunds for their customers through the usual BSP channel,” it said.

On a more positive note, Rex has announced the acquisition of a Boeing 737 full flight simulator from the aviation manufacturer.

The simulator will continue to be housed at and maintained by Ansett Aviation Training in Brisbane. It will later be co-located with the SAAB 340 simulator at Rex’s Simulator Centre in Sydney when the latter is ready in two years’ time.

Rex will make the Boeing 737 simulator available for use by other carriers, within Australia and internationally, whenever spare slots are available.

“The acquisition of the Boeing 737 FFS bolsters Rex’s position in the domestic market by strengthening our training capabilities and demonstrates Rex’s long-term commitment to domestic operations in Australia,” the airline said in a statement.


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