Some good news
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Some good news
While all the thunder has been taken by the two biggies dropping their bundles....Rex Airlines has quitely announced a $10.7 million, before tax, profit.
Down on last year, but any airline making a profit at the moment should be big news.
Media Release: http://www.rex.com.au/MediaRelease/F...rlineGroup.pdf
Down on last year, but any airline making a profit at the moment should be big news.
Media Release: http://www.rex.com.au/MediaRelease/F...rlineGroup.pdf
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Good news for investors but so predictable for most passengers using the monopolized service in areas such as Merimbula and Griffith.
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Well Frank, let's fix that terrible situation this way. You and I can start up a regional airline, we'll focus on Merimbula first with bargain intro fares. When Rex counters with lower fares we will hit back with even lower. Before you know it, Rex will be whining about the now unprofitable route and threaten to withdraw.
But, just in the nick of time, you and I will save them by going broke.
But, just in the nick of time, you and I will save them by going broke.
Frank. Do your homework. I do not think the investors in Rex would be as excited as you !.
These are the total returns over the past 12 months as at the end of trade yesterday.
REX -26.1%
QF +7.3%
VA +8.2%
These are the total returns over the past 12 months as at the end of trade yesterday.
REX -26.1%
QF +7.3%
VA +8.2%
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And so it happens time and time again. Perhaps, (tongue firmly in cheek), another way could be to have the busy routes subsidize the smaller routes, and didn't we once have meaningful regional subsidies and lower en route charges. Something Barnaby should chase up. (I honestly think it's beyond Truss).
A woman from Griffith rang me the other day with a sick kid (ongoing non life threatening treatments with head injury), that had to get to Westmead. The cost was prohibitive to her and her only option was a two day plus two night stop over in Sydney by train. Angel Flight needed at least 8 days notice and she wasn't eligible for ambulance transfer. Even if she was, they would have to make their own way home. She could get some cash back via government travel claim, but had to stump up and wait about a month for partial reimbursement. If she lived in Sydney, she just needed to catch a train or bus, but because she can't afford to live in Sydney, she lives in the bush. I loaned her the money, although I think it was a donation. He's a good kid.
It seems important for politicians to get high speed broadband to the bush, but travel subsidies that airlines have to pass on, aren't fashionable. Forgive me if I sound cynical and congratulations to Rex and Singapore airlines and Pel-Air and everyone on the board of directors...
BTW, Par Avion are still doing the Griffith to Melbourne route 3 times a week despite predictions to the contrary. A route Rex abandoned. I do wish them well and hope they are the exception to sentence number one. Maybe one day they will become so successful that Rex take them over.
EDIT for B772. That's interesting.
A woman from Griffith rang me the other day with a sick kid (ongoing non life threatening treatments with head injury), that had to get to Westmead. The cost was prohibitive to her and her only option was a two day plus two night stop over in Sydney by train. Angel Flight needed at least 8 days notice and she wasn't eligible for ambulance transfer. Even if she was, they would have to make their own way home. She could get some cash back via government travel claim, but had to stump up and wait about a month for partial reimbursement. If she lived in Sydney, she just needed to catch a train or bus, but because she can't afford to live in Sydney, she lives in the bush. I loaned her the money, although I think it was a donation. He's a good kid.
It seems important for politicians to get high speed broadband to the bush, but travel subsidies that airlines have to pass on, aren't fashionable. Forgive me if I sound cynical and congratulations to Rex and Singapore airlines and Pel-Air and everyone on the board of directors...
BTW, Par Avion are still doing the Griffith to Melbourne route 3 times a week despite predictions to the contrary. A route Rex abandoned. I do wish them well and hope they are the exception to sentence number one. Maybe one day they will become so successful that Rex take them over.
EDIT for B772. That's interesting.
Last edited by Frank Arouet; 30th Aug 2014 at 01:20. Reason: Chewing the fat.
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Yes, I must remember that when City folk purchase produce and food grown in Australia and outside the metropolitan area. But the again, those folk would probably just go and buy MORE overseas grain, wine, vegetables, meat, fish.
I've been told that I chose to live where I do, so I should put up with gravel roads and lack of services. As a Serf to the privileged in the city I must remember my place in society. I'll spread the word.
I've been told that I chose to live where I do, so I should put up with gravel roads and lack of services. As a Serf to the privileged in the city I must remember my place in society. I'll spread the word.
