Australia's largest regional airline Regional Express has released its full financial year results ending 30 June 2012 with a record Profit Before Tax of $35.1 million.
Regional Express (Rex) is Australia’s largest independent regional airline operating a fleet of more than 40 Saab 340 aircraft on some 1,300 weekly flights to 35 destinations throughout New South Wales, Victoria, Tasmania, South Australia and Queensland. The Rex Group comprises Regional Express, air freight and charter operator Pel-Air Aviation and Dubbo based regional airline Air Link, as well as the pilot academy
In light of the sterling results, the Chairman of the Regional Express Board Lim Kim Hai announced that the company had authorised a fully franked dividend payout of 9 cents per share (previous financial year was 7.1 cps), "While the Board was mindful of conserving cash for the volatile period ahead, the Board also felt that its healthy unencumbered cash reserves permitted a moderate increase in dividend payout without jeopardising Rex's ability to respond to external shocks."
http://www.rex.com.au/MediaAndPressClippings/MediaReleaseList.aspx?Site=IR for copy of REX media release.