rex Celebrating 20 Years
In advice to stakeholders (everyone tossbag owes money to), tossbag is pleased to announce he's back in the black, unaudited. In October tossbag made 2 million dollars.
Shit, I might buy shares in tossbag.
Nah, **** that. Anyone could say they made 2 mill, unaudited.
Shit, I might buy shares in tossbag.
Nah, **** that. Anyone could say they made 2 mill, unaudited.
Unless I have been looking in the wrong places, can't say I've seen a listed company release unaudited results for a specific timeframe (ie one month) in a current trading period, outside of reporting season.
Thanks Ladloy for assuming I used an acronym without knowing what it meant.
Rent - do you think they own all their operating locations?
Depreciation - Office equipment, computers, cars, GSE. Plenty there.
Amortisation - I don’t know.
Like I said, it is a number assigned to profit without having paid your rent, or accounted for other costs, meaningless.
Rent - do you think they own all their operating locations?
Depreciation - Office equipment, computers, cars, GSE. Plenty there.
Amortisation - I don’t know.
Like I said, it is a number assigned to profit without having paid your rent, or accounted for other costs, meaningless.
With airlines any profit or loss in isolation is irrelevant. The long term capital intensive nature of the business means you can make small profits and be suddenly in deep water when you have to renew the fleet. Like Qantas you can strangle the stone for the drops of blood for a few giant profits but at some point you have to sign a cheque for new equipment and those profits pale in comparison. It's long term performance that matters and partners with deep pockets. VA failed because it never met the performance required of it's encumbrances and its partners got sick of it and stopped the sneaky back door capital injections that were occurring over time. Pretty sure the regular updates on performance are to settle the market that the long term performance is still there. However there's also a tightrope to walk that QF may be poking about making large profits so soon after large handouts, so out comes the 'we are making profit, but not much, limping along here, but doing well' type updates, keep the focus on Alan's cash grab before he retires.
This is actually a very average result considering the strength of the market and huge profits at other airlines. The effective losses on the Saab fleet totally highlight that this is unsustainable - meaning that there is just no profits to pay for new replacement fleet. Too many of the Saabs are flying half empty and subsidised by the tax payer. Some of the routes are probably better off with Cessna Caravans
To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
Thanks Ladloy for assuming I used an acronym without knowing what it meant.
Rent - do you think they own all their operating locations?
Depreciation - Office equipment, computers, cars, GSE. Plenty there.
Amortisation - I don’t know.
Like I said, it is a number assigned to profit without having paid your rent, or accounted for other costs, meaningless.
Rent - do you think they own all their operating locations?
Depreciation - Office equipment, computers, cars, GSE. Plenty there.
Amortisation - I don’t know.
Like I said, it is a number assigned to profit without having paid your rent, or accounted for other costs, meaningless.
This is actually a very average result considering the strength of the market and huge profits at other airlines. The effective losses on the Saab fleet totally highlight that this is unsustainable - meaning that there is just no profits to pay for new replacement fleet. Too many of the Saabs are flying half empty and subsidised by the tax payer. Some of the routes are probably better off with Cessna Caravans
To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
As for the SAABs, I guess there just needs to be a viable replacement, keeping under weight restrictions for security screening with around 30 seats, nothing on the market at present, that said, there is no reason a frame can't fly well into it's 50s or more given proper maintenance and a bit of TLC
This is the result for October and to see the jets making a profit after less than 12 months of continued uninterrupted operations is a great result especially with QF/JQ having them is the crosshairs particularly when they earlier indicated that the would see jets hit profit till mid 2023
When Rex is put in the crosshairs, I think Rex will have quite a battle on their hands.
Rex have not been in the crosshairs of QF/JQ over the past 6-12 months, the Qantas group have had their own problems to deal with, and the only other airline that is regularly raised in company communication is Virgin. I don’t think Rex has even been on the radar to be honest.
When Rex is put in the crosshairs, I think Rex will have quite a battle on their hands.
When Rex is put in the crosshairs, I think Rex will have quite a battle on their hands.
This slot issue keeps coming up
Don't really know what the answer is, however, for slots to be tied up by QF/JQ and VA to the point that the likes of REX or any other newcomer for that matter, can't obtain any peak hour slots can only be seen as either anticompetitive or duopolistic
Just as there are allowances for terminal space for smaller players, there should be something done for slots
3 suggestions
REX specific, allow a couple of regional slots to be converted for Jet ops
A few extra movements per hour during peak
Capping frequency to a maximum of 45 minutes between any city pair for any airline or 30 minutes for an airline group such as QF/JQ whilst encouraging them to use larger aircraft rather than greater frequency
That said, these slot issues may indeed sort itself out when SWA opens in a few years, or certainly should or some action would need to be taken
Don't really know what the answer is, however, for slots to be tied up by QF/JQ and VA to the point that the likes of REX or any other newcomer for that matter, can't obtain any peak hour slots can only be seen as either anticompetitive or duopolistic
Just as there are allowances for terminal space for smaller players, there should be something done for slots
3 suggestions
REX specific, allow a couple of regional slots to be converted for Jet ops
A few extra movements per hour during peak
Capping frequency to a maximum of 45 minutes between any city pair for any airline or 30 minutes for an airline group such as QF/JQ whilst encouraging them to use larger aircraft rather than greater frequency
That said, these slot issues may indeed sort itself out when SWA opens in a few years, or certainly should or some action would need to be taken
This is actually a very average result considering the strength of the market and huge profits at other airlines. The effective losses on the Saab fleet totally highlight that this is unsustainable - meaning that there is just no profits to pay for new replacement fleet. Too many of the Saabs are flying half empty and subsidised by the tax payer. Some of the routes are probably better off with Cessna Caravans
To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
lots of parts are losing support from their manufacturers and the engines are taking too long to refurbish overseas. Costs are sky rocketing from their own indecision
Eventually all regional networks will be operating the same or similar cost aircraft and competing on network, service, value and reliability. Oh, and the ability to attract cockpit crews by an attractive renumeration/lifestyle blend. So, not Rex as currently managed.
There are parts issues with the “new” engine overhaul company as well as skill shortages since COVID.
They are looking to return to GE directly to increase reliability in the engines as the new place has been below par.
They’re only just now thinking of returning to GE (the OEM) for engine overhaul?
If you pay peanuts, you get monkeys. Don’t know why they stopped using GE in the first place.
If you pay peanuts, you get monkeys. Don’t know why they stopped using GE in the first place.
If the country had the microscope on this airline like they do for Qantas, it would be front page news.
