Australia’s Regional Express (Rex) remained in the black for the third consecutive month in December, helped by improving profitability in its domestic jet operations.
The carrier reported a group-wide underlying pre-tax profit of A$3.7 million ($2.6 million) for December, up slightly from November’s A$3.1 million profit, and a significant increase from October’s A$800,000 profit.
Mainline jet operations recorded a pre-tax profit of A$4 million, up from November’s A$2.8 million profit. Rex notes it is the fourth consecutive month of profitable operations since it resumed jet flights in February 2022.
Rex operates a fleet of seven Boeing 737-800s, flying domestic trunk routes on Australia’s east coast.
As for regional operations, Rex says its Saab 340 operations were still in the red, but did not disclose the loss amount. The airline operates more than 60 turboprops,
Rex notes, however, that its regional turboprop operations were cash-flow positive in December, for the fourth consecutive month.
It had previously stated that regional operations will bounce back to profitability in the January-March quarter. The airline also expects to report a profit for the year to 30 June.