Australia’s Rex looks to fulfil growth with new B737 aircraft

Australian regional carrier Rex Airlines is actively looking for another two Boeing 737-800NG aircraft to expand its domestic jet services in response to the strong demand.

The carrier has reported that its domestic jet operations had swung into profitability for the month of September, the first time since resuming operations in February 2022.

Rex executive chairman Lim Kim Hai said: “Rex’s domestic jet operations only properly started in the month of February this year because of the shutdowns in 2021 due to COVID. To turn in a profit so soon after the restart of operations is truly unprecedented in the airline world. This result was foreshadowed in our media release of 24 June 2022 when we predicted that the agreements with corporates and travel agencies, finalised at the tail end of the prior financial year (FY), would very quickly translate into strong passenger and revenue growth. True to form, our domestic jet network passenger numbers for the first three months of this FY grew by 60 percent, 34 percent and 77 percent respectively when compared to June 2022.”

“Revenue growth has been even stronger at 84 percent, 47 percent, and 137 percent for the same three months, suggesting significant yield improvements,” Lim said. “The board gave guidance on 2 August 2022 that it expected FY 2023 to be profitable overall and the current results has further strengthened its conviction. Encouragingly, October 2022 appears to be even stronger than September 2022, with passenger numbers on the jet network 16 percent higher for the first half of the month when compared with the previous month while revenue increased 35 percent on 13 percent more flying. In response to the strong demand, we are actively looking for another two Boeing 737-800NG aircraft to expand our domestic jet services.”

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