“As foreshadowed in our earlier warnings, the Government’s slew of draconian measures at the start of this FY is having its expected impact on the general economy which in turn is hurting regional aviation badly,” Rex Chief Operating Officer Garry Filmer said.
No punch pulling at the AGM today.
REX is very well managed, and will no doubt deal with whatever problems arise. I know from experience that where it flys to airports also served by Qantas, it keeps a very big lid on fares.
Good air services to major centres like Wagga, Tamworth and Dubbo, are the life blood of those centres. Visiting medical officers, legal and business are the main users. Many country-wide businesses have their regional headquarters in these centres and depend on good air services.
I suspect that thinking is a bit beyond the current team in Canberra, who seem to have no idea of the benefits of efficient air services to mines and regional centres. The city offices of the big companies are more important than the actual mines, it would appear.
REX Price at posting:
$1.11 Sentiment: Hold Disclosure: Not Held