Rex reports after-tax loss for FY22; remains positive for FY2023

Rex reported an after-tax loss of $31.11 million for the financial year 2022 (July 2021 to June 2022). The airline attributed the loss to pandemic after-effects, suspension of domestic services, reduced frequency on regional New South Wales routes for the majority of the first half of 2022, from July 2021 to December 2021, and high fuel costs. On the other hand, Rex started FY2023 on a strong note reporting a $1.35 million profit before tax on its September 2022 domestic jet operations for the second consecutive month. Rex remained optimistic about 2023, despite the economic slowdown. “The world economic environment