In the presentation to shareholders at its Annual General Meeting, Regional Express (Rex) will reveal that its unaudited management accounts for October have reported a profit before tax for the domestic jet operations of about AU$2 million, following the marginal profitability reported for the month of September which was the first time that the jet operations reported a monthly profit.
Its regional Saab operations are still loss making for October, but its EBITDAR was a positive AU$1 million for the month, having been EBITDAR-positive since September. The company believes that the regional Saab operations will return to monthly profitability by Q3 of FY 2023.
The Rex Board will reaffirm its expectations that the group will make up for the accumulated losses incurred in the first four months of the FY to emerge profitably overall for the entire FY. (£1.00 = AU$1.79 at time of publication)