Australia's Regional Express expects to break even by the end of the current financial year ending 30 June. "Rex is one of the rare airlines in the world able to achieve this incredible outcome during the pandemic whilst at the same time funding the expansion of the business into the domestic airline market," the company says in an interim guidance. Rex says its regional capacity is at 35% of pre-Covid-19 levels, and adds that it is cautiously expanding its regional network in an effort to stimulate demand while keeping capacity growth about 5% ahead of demand growth. According to the operator, overall demand in the regional market is back to 60% of pre-Covid-19 levels, although the recovery is uneven across the states. Rex says that demand in Queensland has exceeded pre-Covid-19 levels and its own capacity is back to 100%, while Western Australia is recovering "very strongly". Rex's regional operations "appear to be slightly loss-making at the current demand levels", it says, due to a significant reduction in government assistance from April. However, Rex is hopeful that demand will increase in the months ahead to return its regional operations to profitability. "Rex will also soon be announcing entry into other Qantas monopoly ports," it says, having commenced operations in Coffs Harbour and Port Macquarie on 28 March. According to the operator, these regional cities were "monopolised by Qantas" and accounted for 40% of passenger traffic in Rex's entire regional network. In the update, Rex reiterates plans to have 10 Boeing 737-800NGs in its fleet by the end of 2021, up from six currently, as well as its launch of five domestic routes since March. The operator says: "Rex’s entry into the domestic market has been predictably met by typical Qantas predatory behaviour of capacity dumping. Rex is determined to stand its ground and has introduced never-seen-before full-service fares of A$39 ($31) between Sydney and Melbourne." Rex also says that its cash position has improved "exponentially". Excluding the A$50 million funding from PAG, Rex's unencumbered cash reserves increased elevenfold from March 2020, it says, due to very strong advanced bookings on its five new domestic and two new regional routes. "Rex expects this to improve further as more routes are introduced," it says.

Thai AirAsia's parent company has postponed an extraordinary general meeting (EGM) of shareholders intended to approve a new restructuring plan for the airline following board approval of the plan in April. Asia Aviation disclosed the postponement of the 4 June meeting in a 7 May filing to the Stock Exchange of Thailand (SET), but did not state a new date for the meeting. The company says it needs more time to revise the restructuring plan following input and feedback from regulators. Asia Aviation had originally scheduled the meeting to consider and approve a proposed corporate and capital restructuring plan for Thai AirAsia. It had set a record date of 11 May to determine which shareholders would be entitled to attend. The company says it will set a new date for the EGM and a new record date. The restructuring plan, which Asia Aviation's board approved on 26 April, would involve listing Thai AirAsia on the SET to enable it to receive a Bt3.15 billion ($100 million) loan from an unnamed new investor. Previously, Asia Aviation had expected to receive approval for Thai AirAsia's initial public offering within seven-and-a-half months from the now-postponed 4 June EGM, depending on various factors and conditions.

Lufthansa airline Swiss has announced plans to cut its fleet by 15% and its headcount by a fifth as it attempts to right-size itself to serve what it perceives will be a permanently smaller customer base. "It has grown increasingly clear that our market is undergoing structural change, and that despite the actions which we were swift to take in response, a restructuring of our company now sadly seems unavoidable," says Swiss chief executive Dieter Vranckx. Such measures are required "in view of the continuing absence of any industry recovery", the carrier highlights, with demand expected to be around 20% lower over the "medium-term future". The carrier's overall fleet is being downsized by 15% from its 2019 levels, with short and medium-haul aircraft numbers being reduced from 69 to 59. Its long-haul fleet will decline from 31 aircraft to 26, through the retirement of five Airbus jets. Calling the Covid-19 crisis "the greatest challenge it has faced in its corporate history", it adds that frequencies on its short and long-haul routes are will be reduced compared to their pre-crisis schedule, while some intercontinental services will not return at all. The carrier is also extending its staff resizing programme that will reduce its total workforce by 1,700 full-time positions, or over 20% of the carrier's total, up from previous expectations for a reduction of 1,000 full time roles by the end of the year. This could result in the forced dismissals of up to 780 ground staff and flight crew, with the Zurich-based carrier having launched a consultation procedure on the changes. Swiss adds that it will continue to pursue its premium position in the market, maintaining operations at its hubs in Zurich and Geneva, "and ensure that Switzerland remains connected with the world." Its resizing and transformation plan will also entail a shift towards environmental responsibility through using sustainable aviation fuel, as well as "developing and refining intermodal transport solutions", it states. On 29 April the carrier reported an operating loss of Swfr201 million ($221 million) in the first quarter of 2021, compared with Swfr84.1 million during the same period a year ago. It carried around 290,000 passengers in the quarter, a decline of 90% year-on-year. Revenue passenger kilometres decreased by 90%, while capacity, as measured in available seat kilometres, was cut by 73%.