Rex lists on ASX
Airline Regional Express (Rex) debuted yesterday on the Australian Stock Exchange at a five cent premium to its listing price.
Rex managing director Geoff Bruest was quoted as saying the company was “very happy” with the response to the float.
“There’s also a bit of trading interest going on at the moment,” Mr Bruest said.
The offer raised $32.3 million after expenses. Mr Bruest said the proceeds would be used to fund “significant growth opportunities” . These include a 50 per cent stake in aircraft freight and passenger charter company Pel-Air for $12 million.
“We also have the ability to purchase another two 25 per cent amounts of their shares over the next two years so we get full ownership of it in two years time,” he said.
Also on the shopping list are additional aircraft from Europe, and possibly two more in Australia for charter purposes to add to the 33 aircraft currently in its fleet.
The company has forecast a net profit of $15.1 million for 2005/06 after posting a net profit of $11.3 million in the previous year.
Graham Muldoon
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists