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REX - Regional Express Holdings

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nice graph :)

Duopoly, yes; anything else .... One Word... COMPASS. Actually 5: Compass I and Compass II
 
Rex Airlines has started flying on Australia's busiest route, Melbourne to Sydney,for the first time.

The regional carrier's first flights between the capital cities began this morning, as it attempts to compete with Virgin and Qantas on metropolitan routes.

- not sure this will work, in the long-term. ( Would be happy for them to succeed and Virgin not, but who has the deeper pockets?)
 
REX’S PROFIT GUIDANCE FOLLOWING STERLING START TO NEW FY
Rex today announced record high passenger numbers and revenue across both its domestic and
regional networks in the first month of the Financial Year 2023 (FY2023).
On the domestic front, July’s pre-audited base passenger revenue was at $13.6m, almost double
that of the monthly average of the prior three months at $6.87m. Load Factor was at 86% across
the entire domestic network.
On the regional routes, July’s revenue and passenger numbers were almost identical to that of
July 2019, the latest comparative month before the COVID pandemic, with about 4% less flying.
The revenue per flight and the load factor have both improved by 8% and 7% respectively.
Commenting on these astonishing results, Rex’s Executive Chairman, Lim Kim Hai said, “Our
phenomenal performance can be attributed in large part to the tie-ups we signed in the prior few
months with Travel Agency groups and corporate accounts, as announced in our media release
of 24 June 2022. I have every expectation that our numbers will continue to grow sharply over
the next few months since July has seen only 30% of the committed monthly passenger
contributions from these tie-ups.”
“With this in mind, we have decided to accelerate the introduction of further aircraft to our
domestic fleet. Our 7th Boeing 737-800NG aircraft will enter service later this month and we are
in advanced discussions to lease another two for later this year.”
“Our great performance in the regional markets also validates our decision to stand our ground
against Qantas, which flooded the market on marginal regional routes in an attempt to destabilise
us. Not only did their plan not succeed, but we are now having record passengers and revenues
on our regional network by concentrating on the larger regional routes in direct competition with
them. Later this month we will commence servicing Melbourne-Devonport, breaking QantasLink’s
monopoly on the route for the last 17 years and we intend to fly to other regional cities that are
currently monopolised by QantasLink.”
“These outstanding achievements are a timely reward to the Rex family as it celebrates its 20th
anniversary today, and I would like to congratulate and thank each and every team member for
their contributions towards our collective success.”
“The last two decades could not have been worse for aviation in Australia – droughts, fires, floods,
an oil price shock, worldwide pilot and engineer shortages, the Global Financial Crisis, COVID,
an even more severe oil price shock – and yet, here Rex is, still standing tall. By the grace of
God, the timely assistance from the Federal and State Governments, our dedicated staff, and
most importantly, the support of the Australian people, Rex has not only survived but has
emerged even stronger and bigger.”
“Rex has made a vow to repay the people of Australia for keeping it afloat with the government
support we received throughout COVID. We hope that we have started to repay this faith in some
small ways by providing a service the travelling public can count on. We are particularly proud of
our On Time Performance and low cancellation rates, which are in stark contrast to the total chaos
and dysfunctionality of the other carriers with horror stories of planeloads of luggage being lost
and passengers sleeping overnight on the floor at airports:

“Our unparalleled reliability has resulted in many new passengers on top of the corporate and
travel agency ones, and, barring further external shocks, has led us to believe that both our
domestic and regional operations will be profitable this FY. This is quite a feat, considering that
we only properly restarted domestic operations in February this year.”
“Our results should be further boosted by the launch of our Frequent Flyer programme in the
coming months as well as enhanced passenger and freight contributions from our expanding
network. We also can look forward to larger enrolments at our pilot academies from international
cadets as airlines start to ramp up strongly again.”
“Rex is the only airline in Australia, and perhaps only one of five in the world that has not made
an operational loss since 2003 up to COVID. Our best-of-class operations are without dispute.
With such financial and operational prowess, we look confidently ahead in this FY as we turn the
corner on these devastating COVID years.”
This announcement is authorised by Mr Lim Kim Hai, Executive Chairman, Regional Express
Holdings Limited.
Rex is Australia’s largest independent regional and domestic airline operating a fleet of 61 Saab
340 and six Boeing 737-800NG aircraft to 58 destinations throughout all states in Australia. In
addition to the airline Rex, the Rex Group comprises wholly owned subsidiaries Pel-Air Aviation
(air freight, aeromedical and charter operator), the Australian Airline Pilot Academy with
campuses in Wagga Wagga and Ballarat, and propeller maintenance organisation, Australian
Aerospace Propeller Maintenance.

courtesy of Bell Direct
==============================================================================

DYOR

i do not hold this share

i follow this company as an insight into our overall mining and energy industry ( with the FIFO workers )
 
We are particularly proud of our On Time Performance and low cancellation rates, which are in stark contrast to the total chaos and dysfunctionality of the other carriers with horror stories of planeloads of luggage being lost and passengers sleeping overnight on the floor at airports..
Click to expand...
In June, Rex cancelled only 0.7 per cent of flights and 80 per cent arrived on time.
Qantas / Jetstar cancelled 7.5 per cent of flights and less than 60 per cent arrived on time.
Virgin cancelled 5.8 per cent of flights and less than 61.8 per cent arrived on time.
 
REX RECEIVES GREEN LIGHT FROM FIRB

Regional Express holdings Limited (Rex) today announced that the Foreign Investment
Review Board (FIRB) has issued a No Objection Notification with regards to Rex’s intention to
acquire 100% of National Jet Express, the regional services arm of Cobham, focusing on FlyIn-Fly-Out activities.
With this FIRB approval, Rex foresees the completion of the purchase to take place on 30
September 2022, having earlier received no objection from the Australian Consumer and
Competition Commission (ACCC).
Rex notes there is media speculation that Virgin is assessing a purchase of Rex. Rex does
not comment on market speculation or rumours.
It is up to Virgin to comment on this matter.
This announcement is authorised by Mr Lim Kim Hai, Executive Chairman, Regional Express
Holdings Limited.
Rex is Australia’s largest independent regional and domestic airline operating a fleet of 61
Saab 340 and seven Boeing 737-800NG aircraft to 58 destinations throughout all states in
Australia. In addition to the airline Rex, the Rex Group comprises wholly owned subsidiaries
Pel-Air Aviation (air freight, aeromedical and charter operator) and the two pilot academies,
Australian Airline Pilot Academy in Wagga Wagga and Ballarat.


==============================================================================

DYOR

i do not hold this share
 
Looks like time has told again, that Australia can't support 3 domestic carriers.

www.afr.com

Rex stops selling seats as EY called in

The regional carrier is understood to be working with EY, which could be appointed as administrator at an emergency board meeting tonight.
www.afr.com www.afr.com

Regional Express has stopped selling seats on its jets for the next two weeks, with the future of the airline known as Rex in the balance.

Two sources speaking on condition of anonymity said EY was working with the carrier and was likely to be appointed as administrator. Rex has already stopped selling tickets between major cities. The board is set to meet on Tuesday evening.

Prime Minister Anthony Albanese told the ABC on Tuesday that Rex already received subsidies. The government is monitoring the developments, given Rex’s importance in connecting many regional centres

 
It is incumbent on the ALP Government to support Rex Airlines.

Just as the rest of Australia depends on the regions for a robust economy and exports, the regions need a cheap and operationally efficient airline such as Rex to continue service. Rex is an essential part of Australian infrastructure.

Should Rex be allowed fail the ALP can say goodbye to being in government, even in a coalition with their socialist mates the Greens and the hoorah Henriettas the Teals, for a generation.

Perhaps a levy on inter Capital city routes which are indecently cheap in comparison to inter Regional fares by the other airlines could provide funds to make Rex viable.

gg
 
REGIONAL EXPRESS HOLDINGS LIMITED ENTERS VOLUNTARY ADMINISTRATION

Sydney, Tuesday, 30 July 2024:

Regional Express Holdings Limited (ACN 099 547 270) and a number of its subsidiaries (ASX: REX) (the Rex Group) have entered voluntary administration.

The wholly owned subsidiaries which are affected by the administration are detailed in the enclosed schedule.Samuel Freeman, Justin Walsh and Adam Nikitins of Ernst & Young Australia (EY Australia) have been appointed Joint and Several Voluntary Administrators by the Rex Group’s respective Boards of Directors.

Regional Saab 340 flights unaffected

Regional Saab 340 flights are currently unaffected by the administration and will continue to operate.

Prepaid ticket holders will continue to have their tickets honoured by the Rex Group on regional routes.

The Rex Group has a long and proud history of servicing regional and remote communities across Australia.

Domestic 737 services grounded with Virgin Australia offering impacted Rex passengers free of charge rebooking

Flights between major airports have been cancelled, with the Rex Group’s domestic fleet of Boeing 737aircraft all grounded.

Affected customers are being contacted directly by Rex.

Virgin Australia has made an offer for Rex customers with an existing ticket on a flight cancelled due to the Administration process the opportunity to transfer their ticket free of charge to the 13 overlapping Virgin Australia services listed below.

Eligible Rex customers who wish to take up Virgin Australia’s rebooking offer, must contact the Virgin Australia Guest Contact Centre on 13 67 89 or visitwww.virginaustralia.com by Wednesday 14 August 2024.

Eligible customers will be re-accommodated on Virgin Australia flights as close as practicable to their original time of travel.

Holders of affected tickets should not come to the airport until they have rebooked their flights.

Rex and Virgin Australia are also exploring opportunities to support regional customers, which include Virgin Australia selling Rex’s regional services through codeshare or interline arrangements, and making Velocity Frequent Flyer benefits available to Rex’s regional customers.

The Administrators would like to thank Virgin Australia on behalf of impacted Rex customers and regional communities for its support during this difficult time.

This announcement has been authorised by the Joint and Several Voluntary Administrators of the RexGroup.

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation(Administrators Appointed)

Regional Express Holdings Limited List of entities in administration

Regional Express Holdings Limited (ACN 099 547 270)Regional Express Pty Limited (ACN 101 325 642)Rex Airlines Pty Ltd (ACN 642 400 048)Rex Investment Holdings Pty Limited (ACN 101 317 677)Air Partners Pty Ltd ACN (065 221 356)(all Administrators Appointed)(collectively, “the Rex Group”)

A member firm of Ernst & Young Global LimitedLiability limited by a scheme approved under Professional Standards Legislation(Administrators Appointed)Page 3
Regional Express Holdings LimitedDomestic routes being accommodated by Virgin AustraliaMelbourne (MEL) – Adelaide (ADL)Melbourne (MEL) – Canberra (CBR)Melbourne (MEL) – Brisbane (BNE)Melbourne (MEL) – Coolangatta, Gold Coast (OOL)Melbourne (MEL) – Hobart (HBA)Melbourne (MEL) – Sydney (SYD)Melbourne (MEL) – Perth (PER)Sydney (SYD) – Brisbane (BNE)Sydney (SYD) – Coolangatta, Gold Coast (OOL)Sydney (SYD – Adelaide (ADL)Brisbane (BNE) – Adelaide (ADL)Adelaide (ADL) – Perth (PER)Brisbane (BNE) – Cairns (CNS)A member firm of Ernst & Young Global LimitedLiability limited by a scheme approved under Professional Standards Legislation(Administrators Appointed)Page 4Regional Express Holdings Limited
Media Contacts:
Luke Starr+61 419 446 879lstarr@phronesis.consulting
Shane Allison+61 402 219 963sallison@phronesis.consulting
Other Contacts:
Rex passengers: Rex.customers@au.ey.com
Rex creditors: Rex.creditors@au.ey.com
Rex suppliers: Rex.suppliers@au.ey.com
Rex employees: Rex.employees@au.ey.com
Media enquiries: Rex@au.ey.com

i do not hold this share

strong economy ??

Albo you need to get new glasses the rose-tinting has gone black
 

The bizarre government policy that led to Rex's downfall​


www.firstlinks.com.au

The bizarre government policy that led to Rex's downfall

To fly capital city routes such as Sydney-Melbourne, an airline needs landing slots at Sydney Airport. An extraordinary government policy prevented Rex Airlines from getting these slots and set them up to fail.
www.firstlinks.com.au www.firstlinks.com.au

i do not hold this share
( but did think about it several times )
 
divs4ever said:

The bizarre government policy that led to Rex's downfall​


www.firstlinks.com.au

The bizarre government policy that led to Rex's downfall

To fly capital city routes such as Sydney-Melbourne, an airline needs landing slots at Sydney Airport. An extraordinary government policy prevented Rex Airlines from getting these slots and set them up to fail.
www.firstlinks.com.au www.firstlinks.com.au

i do not hold this share
( but did think about it several times )
Click to expand...
Now we understand all why Qantas was so Voice pro....rotten government but 50% of Australians still cheer them to their demise
 

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