26-Nov-2009 4:05 PM
Rex shares nosedive as profit take a battering, but signs of recovery being seen
Analysis
Regional Australian airline, Regional Express Holdings Ltd (Rex), stated it is unable to forecast a full year result "in light of a highly volatile economic outlook, passenger demand, exchange rate and fuel prices", but stated it expects improved financial results in the current quarter (ended Dec-2009), with 2QFY2010 results expected to be "as good" as 21FY2009 levels, as the operating environment stabilises.
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