Aug 30 2017

By Georgia Holland

 

The Regional Express Group have announced a quadrupling of profits for the 2017 Financial Year.
 
Rex announced a Profit Before Tax of $17.8 million on a turnover of $281M. 

Rex Executive Chairman Lim Kim Hai says it's proven to be another challenging year for the aviation industry with Qantas, Air New Zealand and Singapore Airlines all reporting declines in Profit of 17 - 24%.

Rex operates locally out of Cooma airport, where construction upgrades were completed earlier this year.

Member for Monaro, John Barilaro says the impact the upgraded facility will have on local industries will be huge, with estimates suggesting that regional income will increase by $50 million over the next 20 years.

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