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Rex suffers profit drop

REGIONAL Express Holdings’ financial results revealed a 12.8% drop in profit for the airline of $9.3 million for the year ending 30 Jun 2015, representing the third consecutive profit decline since FY13. The expected bottoming out of passenger numbers did not materialise and instead dropped a further 0.8%. Rex executive chairman Lim Kim Hai pointed to difficult trading conditions to explain the figures. “Trading conditions of regional aviation continued to deteriorate in the period under review and resulted in 19,500 fewer Rex passengers travelling on its ...

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