Rex narrows its first half loss
March 01, 2024
Rex Airlines narrowed its pre-tax loss for the six-month period ended 31 December to A$2.1 million ($1.37 million) from a A$15.7 million loss in the comparable period of 2022. Group total revenue was up 4.6% year on year to A$353 million, the Australian carrier says. For its first half of the financial year 2024, ASKs increased by up 13.7% however load factor dropped by 3.7 percentage points to 73.6%. The carrier narrowed its loss after tax to A$3.2 million from A$16.5 million in the same period a year ago, aided by an A$28.8 million "other gains" item, which was driven by fair value gains on convertible notes, warrants and foreign currency. Rex's charter joint venture National Jet Express (NJE) grew its revenue by 15% to A$119 million, as it secured seven new contracts during the period. Fleets data shows that NJE operates nine De Havilland Canada Dash 8-400s, six Embraer 190-E1s and four BAe 146-300Fs. Rex ended the period with A$54.6 million in cash, down from A$61.3 million at 31 December 2022. It foresees its revenue to grow for the full year, as it expects improvements in all its subsidiaries.
Qatar Airways codeshare partner China Southern to serve Doha
February 29, 2024
Qatar Airways' codeshare partner China Southern Airlines plans to launch a new route to Doha from Guangzhou in China from 22 April. The route will be operated four times weekly flights using Boeing 787 aircraft, Qatar Airways says. China Southern is Qatar Airways' third codeshare partner in China, following Oneworld partners Cathay Pacific and Xiamen Airlines. The new flights connect travellers to Qatar Airways' worldwide network of over 170 destinations through Hamad International Airport, providing connections and additional choice to destinations in Africa, the Middle East, and Europe. By connecting their networks, both partner airlines hope to increase business and leisure travel to and from China, thereby strengthening the bonds between the two countries. Group chief executive officer Badr Mohammed Al-Meer states: "Qatar Airways welcomes our codeshare partner, China Southern Airlines, to Qatar. This strategic partnership between our two airlines is a testimony of our commitment to develop traffic to and from China for the benefit of our worldwide travellers."
Air Canada signs with HAECO for 787 and A330 base maintenance
February 29, 2024
HAECO has entered into a five-year exclusive base maintenance agreement with Air Canada covering its 39 Boeing 787s and 18 Airbus A330s. The Hong Kong based MRO adds that it will extend to two more 787-9s on order, and includes C-checks across both fleets. The agreement commenced in September 2023 and has an option to extend the agreement for five more years. "This new base maintenance contract with Air Canada reflects HAECO’s unwavering commitment to excellence and our ability to deliver top-notch maintenance solutions," says Haeco chief commercial officer Gerald Steinhoff. "We are very pleased to partner with Air Canada and are confident that our expertise will ensure the highest level of service and support for their fleet."