Rex costs expected to increase due to 'extremely weak' AUD

26 August, 2019

Regional Express (Rex) (23-Aug-2019) reported the following profit forecast for FY2020:

  • Trading conditions in the past six months suggest passenger numbers will be stagnant;
  • Costs expected to increase due to an "extremely weak" AUD;
  • In line with global economic outlook, Rex expects its profit to reduce by 15%-20% in FY2020;
  • Rex remains confident that its strong foundation, highly efficient operations and almost no leverage will carry it through the turbulent conditions until the conclusion of the presidential election in the US. [more - original PR]