Regional Express claims “most profitable airline” mantle.
Regional Express has just released its results for the year to 30 Jun, reporting a record pre-tax profit of $35.1 million.
Executive chairman, Lim Kim Hai, said the outcome made Rex the most profitable listed airline in Australia.
“Even as almost every blue-ribbon legacy airline in the world, be it Singapore Airlines, Air France, Lufthansa, Emirates or Qantas, reported profits plunging more than 60% or even losses, I feel humble and blessed that Rex was able to increase its profit by 45.6% to end the financial year with a record profit,” he said.
Total revenue rose 14.5% to $273.1 million and the after-tax profit was up 44.9% to $25.5 million.
The record result was attributed mainly to the Pel-Air/Air Link division which included improved fly-in/fly-out figures and the commencement of the Ambulance Victoria contract.
The Regional Express board has declared a 9c fully franked dividend per share, and despite the record figures Lim warned that the current financial year would “not be as rosy”.
More information in today’s Travel Daily.