Regional Express (Rex) has stated that it is considering withdrawing from some marginal routes and retrenching staff, after issuing guidance for a 30% drop in net profit due to high fuel costs and weak demand. In its first profit guidance for fiscal 2011, Rex said profit before tax would be around $23.5 million, about 10% down from the previous year’s $26.2 million. Executive chairman Lim Kim Hai said that in response to the challenging environment, Rex was reviewing its network. He said in a statement: “The aviation environment this year has been extremely toxic and we have seen all the
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