Airline Now Owns Its Entire Fleet Of 51 Aircraft

Regional Express (Rex) has purchased 18 latest generation Saab 340B plus aircraft which came off lease on 25 March 2014. These aircraft were part of the 25 aircraft it had on lease and the other seven were purchased earlier at their lease expirations on July 1 of last year. The acquisition was partly funded by Rex’s operating cash flows with the rest from bank financing. The purchase means that Rex now owns its entire fleet of Saab 340 aircraft which is 51 strong.

“Rex committed to leasing these aircraft in late 2006 as part of its fleet modernization and expansion program," said Rex Chief Operating Officer Garry Filmer. "Upon lease expiry we had the opportunity of purchasing them at advantageous rates. With a remaining useful life of at least another 20 years, the Saab 340s with their low operating cost and fuel efficient engines will continue to provide sterling service on the Rex network. The purchase also means that the savings on lease payments will contribute significantly to improvement on the bottom line.

Regional Express (Rex) is Australia’s largest independent regional airline operating a fleet of more than 40 Saab 340 aircraft on some 1,300 weekly flights to 36 destinations throughout New South Wales, Victoria, Tasmania, South Australia and Queensland. The Rex Group comprises Regional Express, air freight and charter operator Pel-Air Aviation and Dubbobased regional airline Air Link, as well as the pilot academy Australian Airline Pilot Academy.

(Image from file)

FMI: www.rex.com.au