Carrier now forecasting a $35 million operational loss for 2022/23.
Rex Airlines, which yesterday placed its shares into a trading halt, has just announced a revision to the interim profit guidance announced in late February at which point the carrier forecast an operational profit for this financial year.
The carrier says it now expects its results for the 12 months to 30 June to be a $35 million loss, blaming disruptions to its network as a result of supply chain issues and shortages of pilots and engineers.
Rex Airlines also said business travel had significantly reduced in the last two months “due largely to corporate travel budgets being exhausted following exponential increases of international fares”.
However “Rex remains optimistic for its outlook on a group operational profit before tax for FY2024 and beyond with the continued expansion of its domestic jet operations network and with the start of several new contractual works one by its subsidiaries,” according to an ASX update this afternoon.
More details in tomorrow’s issue of Travel Daily.