Regional Express, Rex, has released that its unaudited management accounts for November have shown a further increase in profitability for its domestic Boeing 737 jet operations, with the profit before tax (PBT) improving from about AU$2 million to AU$2.8 million. This makes November the third consecutive month that the domestic jet operations have been overall profitable since the jet operations resumed in February 2022.
The regional Saab 340 operations are still making a loss of less than AU$0.2 million for November but EBITDA for the month has doubled to AU$2.2 million from the positive AU$1 million for the month of October, again making it the third consecutive month the regional operations have been cash-flow positive since COVID.
The company believes that the regional Saab operations will return to monthly overall profitability in the current quarter. The entire Rex Group showed a profit for the second consecutive month, with the PBT for the month at just over AU$3 million following a smaller PBT of AU$800,000 the month before.
