Regional Express Holdings (REX)

Shares / Stock Code

REX

Stock Exchange / Sharemarket

ax

Regional Express Holdings (REX) is an airline providing passenger, charter and freight transport services to regional south-east Australia. REX is essentially a merger of two regional airlines in Australia; Hazelton and Kendell. The airline services a number of state capitals and regional centres, including Adelaide, Melbourne, Sydney, Dubbo and Broken Hill. REX's fleet is made up of 38 Saab340 aircrafts and a total of 78 aircraft. REX operates more than 1,200 flights per week to 23 destinations.

REX was incorporated in NSW on 12 February 2002 as Australiawide Airlines. The passenger airline businesses of Hazelton and Kendell, formally part of the Ansett Group, became part of REX in August 2002. After the collapse of Ansett, a consortium of businessmen, comprising Singaporean investors and Australian private investors purchased the Hazelton and Kendell businesses. The company changed its name to Regional Express Holdings in August 2005 and listed on the Australian stock market (ASX) in November 2005.

In FY08, REX achieved the best On Time Departure record of all Australian airlines as measured by the BITRE. REX was named "Regional Airline of the Year 2007" by the Centre for Asia Pacific Aviation and awarded the title of "Sustainable Small Company of the Year 2007" by Ethical Investor magazine. REX has a fleet of twin-propeller Saabs which operate efficiently on airstrips unsuited to larger jet airliners, allowing REX to be the sole carrier servicing particular regional routes in Australia.

Major customers include the regional air travelling public, businesses in regional Australia and government departments. REX's major competitor is QantasLink, which is comprised of three different regional airlines - Airlink, Eastern Australia Airlines and Sunstate Airlines. REX also competes with other airlines that cover the same routes.

Its wholly owned subsidiaries include Regional Express Pty Limited, Rex Freight & Charter Pty Limited, Rex Investment Holdings Pty Limited, Air Link Pty Limited, Pel-Air Aviation Pty Limited, Australian Airline Pilot Academy Pty Limited.