Rex warns of further fall in profit

Rex warns of further fall in profit
By admin


Regional Express is expecting its 2013 profits to be worse than previously forecast.

The carrier said the government’s “slew of draconian measures”, which includes the carbon tax, is hitting hard with profits now set to fall between 25% and 35%.

At its 2012 profit presentation in August, Rex said profits would fall between 15% to 25%.

“As foreshadowed in our earlier warnings, the Government’s slew of draconian measures at the start of this FY is having its expected impact on the general economy which in turn is hurting regional aviation badly,” Rex chief operating officer Garry Filmer said.

Rex said the aviation industry was facing a tripple whammy of the carbon tax, additional security charges and the removal of the Enroute Rebate Scheme.

Together they will wipe $4-$5 million from Rex’s bottom line, executive chairman Lim Kim Hai said in August.

Rex reported a pre-tax profit of $35.1m in the 12 months to June 30, a rise of more than 45% on the previous year.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

Latest News

  • Destinations
  • Tour Operators

Mat McLachlan Battlefield Tours advises final call for Anzac Day 2025

Mat McLachlan Battlefield Tours has advised that the final call for Anzac Day 2025 is on 31 January 2025 with pre-registration also available for Anzac Day 2026. Travellers are encouraged to book their spot for either the 10-day Anzac Day on the Western Front departing on 19 April from Paris or the 8-day Anzac Day […]

  • Destinations
  • Hotels

Two destinations to visit in Mexico for Valentine’s Day

Valentine’s Day is quickly approaching and here are two romantic getaway destinations in Mexico to make any traveller’s day with their special someone even better. Casona Roma Norte, Mexico City This Valentine’s Day is the perfect time to visit Mexico City, as the streets come alive with roses, heartfelt gifts, and the city basks in […]

  • Aviation
  • Luxury

Emirates debuts new uniform for Premium and VIP Passenger Services team

Emirates has debuted a new uniform designed for its Premium & VIP Passengers Services team, who are responsible for the seamless transfer of VIPs through Dubai International Airport. The new uniform has echoes of the iconic Emirates cabin crew look, however, exclusively represents Emirates’ elite unit that caters to high profile customers. A new look […]

  • Appointments
  • News

BEIA appoints Rachel Cook as its new chair

The Business Events Industry Aotearoa (BEIA) Approved Professional Conference Organisers (PCO) Group has appointed Rachel Cook as its new chair. Cook is the business director of Conference Innovators (CI) and since joining CI 20 years ago has been instrumental in the company’s continuing growth and success. She plays a pivotal role in building and supporting […]

  • Hotels

Gaya Island Resort unveils its Wildlife Wonders package

Gaya Island Resort has unveiled its Wildlife Wonders package, a meticulously crafted 4-day, 3-night adventure designed for nature enthusiasts eager to discover the island’s rich biodiversity. The resort is nestled on the tranquil shores of Pulau Gaya, the largest island in Tunku Abdul Rahman Marine Park just off Kota Kinabalu. Its location makes it the […]

  • News

New Caledonia is open and ready for business as Smartraveller downgrades warning

Eight months after the civil unrest, the South Pacific destination of New Caledonia has reopened and is ready to welcome Australian tourists. Smartraveller has recently downgraded its travel advice to the destination following the removal of the nation’s curfew on the 2nd of December. The island is currently rated as amber – ‘exercise a high […]

  • Business Travel
  • Hotels

Atura Wellington unveils newly refurbished rooms in the New Zealand hotel

Atura Wellington, the former Thorndon Hotel by Rydges, has unveiled its newly refurbished rooms in the New Zealand hotel. The rooms were completed following a full refurbishment of all public spaces as part of a broader redevelopment plan. All 108 guest rooms have now been upgraded. The hotel is in the historic Thorndon neighbourhood and […]