777WakeTurbz . . . it looks to me as if REX has been doing it tough for a little while - but hopefully they are through the worst of it?
Sincerely hope so!
Cheers
Regional Express profit falls 22.9%
Thursday November 26, 2009
Airline Transport World
Australia's Regional Express posted net income of A$3.7 million ($3.4 million) for its fiscal first quarter ended Sept. 30, down 22.9% from a A$4.8 million profit in the year ago period, blaming the decline on one-time restructuring costs incurred by its charter subsidiaries and the "global financial crisis."
"By industry standards, it's still a very, very credible result," Deputy Chairman John Sharp told reporters in a briefing available via webcast. Looking ahead, he said, "The operating environment is stabilizing. Passenger numbers are starting to show signs of growth. So we think the worst is now behind us form a global financial crisis point of view and we see much brighter prospects coming forward in the near future."
Fiscal first-quarter revenue fell 15.8% to A$56.9 million. Passengers carried dropped 13% to 308,000 as ASKs lowered 5.2% to 184 million. Load factor was down 5.9 points to 61.8%, "still for a regional airline quite a high load factor, certainly high by Australian standards," Sharp said, adding that he expects load factor to improve in coming quarters.
Average fare declined 1.8% to A$154.8 while RASK decreased 10% to A25.8 cents and CASK lowered 8% to A24.5 cents.
by Aaron Karp