Regional Express Airlines has released some health financial figures, following the 2018 Financial Year.
The numbers point to a 41 percent improvement in profits for the 2018 financial year.
Profit Before Tax stands at $25.1 million, and $16.9 million after tax, on a turnover of $295.5 million.
Chairman of Regional Express Lim Kim Hai has thanked their airline’s pilot group for accepting last minute call-outs to help retain services during the acute pilot shortage that’s hitting all regional operators.
Mr Lim says the outlook for the next 12 months is too uncertain for the Board to issue a precise profit forecast, however, if the Australian economy remains robust as we have seen in the past 2 months, the Board has grounds to believe they could still achieve double digit growth.
REX isn’t getting too carried away with the pleasing results though, with plenty of challenges expected in the next 12 months, including the devastating drought, the weak Australian dollar and the possibility of fuel price increases.