Rex reports after tax loss of $11.3 million for 1HFY2023, forecasts positive growth

Rex has reported an after-tax loss of $11.3 million for the six months ending December 31, 2022. Rex posted its financial transactions in the first half of financial year FY23 ending on June 30, 2023. The airline said that while the loss is disappointing, the result is a 55% improvement as compared to the same time last year (1HFY22). “A negative impact of $15.7 million related to mark-to-market valuation of the Convertible Note and Warrant facility entered into with PAG in 2020. This loss is not cash in nature and was brought about by the increase in value of Rex’s