Yes fleet replacement will be a problem in 10 years time. Increase maintenance will go hand in hand with the aging fleet. However, I understand that one mitigation against this cost is the large number of spares they bought from Pinaccle 4 years ago; apparently there were so many spares that it will take years to go through them.
http://chasingvalue.com.au/
Ann: Rex Issues New Profit Guidance, page-12
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