REX has predicted profitability for its domestic Boeing 737 jet operations, reporting a Profit Before Tax (PBT) of $4.0 million improving from the $1.9 million in October 2022 and $2.8 million in November 2022. The airline released its unaudited management accounts for December 2022.
These results mark the airline's fourth consecutive month of profitable domestic jet operations since the jet operations resumed in February 2022.
The airline reported losses for the Saab 340 operations at the PBT level in December as Qantas continued its predatory behaviour. However, EBITDA for December 2022 was reported at $1.4 million making it the fourth consecutive month the regional operations have been cash-flow positive since COVID.
The entire Rex Group showed an operational profit for the third consecutive month, with the underlying PBT for December 2022 coming in at $3.7 million, the highest since COVID. PBT for the months of October and November were $0.8 million and $3.1 million respectively.