REX - Regional Express

OUTThere Magazine l June 2013

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rexnews Right and below: Rex Deputy Chairman The Hon. John Sharp presenting the results; Rex Ambassadors at the briefing – front row (L-R): Max Hazelton, Laurel Hazelton, Wally Flynn; back row (L-R): Max Kingston, Kay Hull, Margaret Stenson, Scott Stenson. Rex Group Half-Year Results 27 February 2013 saw the Rex Group announce its first-half FY12/13 financial results. Commenting on the results, Rex Executive Chairman Lim Kim Hai said that, as foreshadowed in the profit warning issued at the AGM on 27 November 2012, the group's profit before tax for the period had slumped by 32.6 per cent to $12.5 million on a turnover of $135 million. "From the very first month of this financial year, we are seeing the catastrophic impact the various draconian government polices are having on regional aviation. Not only have policies like the Carbon Tax increased costs significantly, there has also been a significant drop in passenger numbers due to government policies exacerbating the effects of a fragile global economy. "Regional aviation has been hit particularly hard. Besides the Carbon Tax and consistently high fuel prices, it was also the target of an onslaught of government fiscal and regulatory measures, which resulted in the steep decline in the results we see today. "Rex will work with the Regional Aviation Association of Australia (RAAA) to define critical policy measures that need to be adopted to rescue regional aviation. We will call on both the Government and the Opposition to state their position on these matters prior to the next election." "Rex will work with the Regional Aviation Association of Australia (RAAA) to define critical policy measures that need to be adopted to rescue regional aviation." VII

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