Regional Express (ASX:REX) unveils increase in weekday return services

Aviation services provider Regional Express (ASX:REX) has unveiled a steep increase to its services in the major regional centres on its network.

It was reported that eleven regional cities in NSW, Victoria and South Australia will see an increase in weekday return services, from 14 per cent up to 67 per cent. This is in addition to the new services to Devonport that have already been announced.

“Rex sees strong recovery in these regional centres and is dedicating considerable resources to meet this demand,” said Rex’s general manager of network strategy Warrick Lodge.

“These improved schedules will see us operating more flights on our regional network than pre-Covid and mark a significant turning point for the airline as we return to profitability.”

“We are confident that FY23 will see a great improvement in the financial performance of our regional operations since Rex will only operate on densely patronised regional routes where the load factors and yields will be much more favourable.”

The increased services will commence on July 4, while the new additional services are already on sale.

“It pains us to have to abandon half a dozen marginal regional routes after decades of faithful service. From June 27, Rex will be withdrawing from the Sydney to Cooma route, which has recorded less than 2,000 passengers in the last 12 months.”

Shares are trading 2.8 per cent higher at $1.10.