Rex Airlines has forecast a $35m loss for the monetary 12 months, with the regional airline citing a scarcity of pilots and engineers, in addition to a drop in business journey, for his or her decreased flight schedules.
Rex made the grim announcement in an organization assertion to the ASX on Tuesday.
“The global shortage of pilots and engineers, along with supply chain shocks post-Covid have disrupted Rex’s network, forcing Rex to make significant reductions to its flight schedules over the last couple of months to match the need for aircraft, pilots and engineers to what is available,” the airline mentioned within the assertion.
“Furthermore, business travel in the months of May and June have significantly reduced due largely to corporate travel budgets being exhausted following exponential increases of international fares.”
Rex describes itself as Australia’s largest impartial regional airline, working a fleet of 59 Saab 340s and 7 Boeing 737s to 58 places across the nation.
The airline mentioned it remained “optimistic” on its outlook on a gaggle operational revenue earlier than tax for the 2024 monetary 12 months and mentioned unaudited income from regional Saab operations had been above pre-Covid ranges.
Rex entered a buying and selling halt on Monday pending Tuesday’s announcement.
The Australian reported on Monday {that a} third of the airline’s fleet of Saab 340s was not working because of a scarcity of expert employees.
Source: www.perthnow.com.au
