Rex Awarded CAPA Asia Pacific Regional Airline Of The Year
In FY2017, Regional Express, Rex, reported a nearly quadrupled operating profit, achieving an AUD17.8 million profit before tax, compared to AUD4.3 million in FY2016. The carrier also forecast double digit profit growth for FY2018. This impressive growth has resulted in a significant share price growth exceeding 30%. In the last two months alone, Rex’s share price increased from AUD1.05 to AUD1.38, the highest result the airline has achieved since Feb-2008.
“Rex has flourished in a difficult domestic operating environment, expanding while improving profitability, a creditable performance,” said Mr Harbison. “Over the years Regional Express secured a solid base and has now used this to expand more widely and strategically.”