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rex Celebrating 20 Years

Old 25th Nov 2022, 05:37
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Originally Posted by Icarus2001 View Post



EBITDAR really means profit before we have paid all of our outstanding bills. Meaningless creativity.
EBITDAR stands for earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR). It's useful for businesses such as hotels, restaurants or casinos that have unique or variable rent costs
Interest, pretty sure they own their birds so nothing there
Tax, is only on profit
Depreciation, I would think the SAABs have depreciated as much as possible

Amortisation, see above
Restructuring, possibly, a lot of route changes lately
Rent, perhaps...

Can't see $1mil being thrown into the negative with other costs, unless they are carrying losses over from earlier in the year

Good to see the jets making coin, as I predicted many time for November this year
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Old 25th Nov 2022, 05:43
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Originally Posted by Deano969 View Post
EBITDAR stands for earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR). It's useful for businesses such as hotels, restaurants or casinos that have unique or variable rent costs
Interest, pretty sure they own their birds so nothing there
Tax, is only on profit
Depreciation, I would think the SAABs have depreciated as much as possible

Amortisation, see above
Restructuring, possibly, a lot of route changes lately
Rent, perhaps...

Can't see $1mil being thrown into the negative with other costs, unless they are carrying losses over from earlier in the year

Good to see the jets making coin, as I predicted many time for November this year
or jet costs being handballed to the regionals.
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Old 25th Nov 2022, 05:52
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In advice to stakeholders (everyone tossbag owes money to), tossbag is pleased to announce he's back in the black, unaudited. In October tossbag made 2 million dollars.

Shit, I might buy shares in tossbag.

Nah, **** that. Anyone could say they made 2 mill, unaudited.
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Old 25th Nov 2022, 06:20
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Unless I have been looking in the wrong places, can't say I've seen a listed company release unaudited results for a specific timeframe (ie one month) in a current trading period, outside of reporting season.
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Old 25th Nov 2022, 09:12
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Why is REX updating the market monthly? This seems odd.
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Old 25th Nov 2022, 09:24
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Thanks Ladloy for assuming I used an acronym without knowing what it meant.

Rent - do you think they own all their operating locations?

Depreciation - Office equipment, computers, cars, GSE. Plenty there.

Amortisation - I donít know.

Like I said, it is a number assigned to profit without having paid your rent, or accounted for other costs, meaningless.
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Old 25th Nov 2022, 10:25
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With airlines any profit or loss in isolation is irrelevant. The long term capital intensive nature of the business means you can make small profits and be suddenly in deep water when you have to renew the fleet. Like Qantas you can strangle the stone for the drops of blood for a few giant profits but at some point you have to sign a cheque for new equipment and those profits pale in comparison. It's long term performance that matters and partners with deep pockets. VA failed because it never met the performance required of it's encumbrances and its partners got sick of it and stopped the sneaky back door capital injections that were occurring over time. Pretty sure the regular updates on performance are to settle the market that the long term performance is still there. However there's also a tightrope to walk that QF may be poking about making large profits so soon after large handouts, so out comes the 'we are making profit, but not much, limping along here, but doing well' type updates, keep the focus on Alan's cash grab before he retires.
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Old 25th Nov 2022, 11:35
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This is actually a very average result considering the strength of the market and huge profits at other airlines. The effective losses on the Saab fleet totally highlight that this is unsustainable - meaning that there is just no profits to pay for new replacement fleet. Too many of the Saabs are flying half empty and subsidised by the tax payer. Some of the routes are probably better off with Cessna Caravans


To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
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Old 25th Nov 2022, 21:46
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Originally Posted by Icarus2001 View Post
Thanks Ladloy for assuming I used an acronym without knowing what it meant.

Rent - do you think they own all their operating locations?

Depreciation - Office equipment, computers, cars, GSE. Plenty there.

Amortisation - I donít know.

Like I said, it is a number assigned to profit without having paid your rent, or accounted for other costs, meaningless.
Wasn't me mate, twas Deano.
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Old 25th Nov 2022, 22:29
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Originally Posted by 1a sound asleep View Post
This is actually a very average result considering the strength of the market and huge profits at other airlines. The effective losses on the Saab fleet totally highlight that this is unsustainable - meaning that there is just no profits to pay for new replacement fleet. Too many of the Saabs are flying half empty and subsidised by the tax payer. Some of the routes are probably better off with Cessna Caravans


To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
This is the result for October and to see the jets making a profit after less than 12 months of continued uninterrupted operations is a great result especially with QF/JQ having them is the crosshairs particularly when they earlier indicated that the would see jets hit profit till mid 2023

As for the SAABs, I guess there just needs to be a viable replacement, keeping under weight restrictions for security screening with around 30 seats, nothing on the market at present, that said, there is no reason a frame can't fly well into it's 50s or more given proper maintenance and a bit of TLC
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Old 25th Nov 2022, 22:34
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Apologies Ladloy, red wine and a small phone screen. Mea Culpa.
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Old 25th Nov 2022, 22:47
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Originally Posted by Deano969 View Post
This is the result for October and to see the jets making a profit after less than 12 months of continued uninterrupted operations is a great result especially with QF/JQ having them is the crosshairs particularly when they earlier indicated that the would see jets hit profit till mid 2023
Rex have not been in the crosshairs of QF/JQ over the past 6-12 months, the Qantas group have had their own problems to deal with, and the only other airline that is regularly raised in company communication is Virgin. I donít think Rex has even been on the radar to be honest.

When Rex is put in the crosshairs, I think Rex will have quite a battle on their hands.
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Old 25th Nov 2022, 22:59
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Originally Posted by ANCDU View Post
Rex have not been in the crosshairs of QF/JQ over the past 6-12 months, the Qantas group have had their own problems to deal with, and the only other airline that is regularly raised in company communication is Virgin. I donít think Rex has even been on the radar to be honest.

When Rex is put in the crosshairs, I think Rex will have quite a battle on their hands.
Nah, Qlink has redistributed 20 odd Q200/300s onto traditional Rex regional routes. Unfortunately from what I've heard they've made a mess of it with reliability and schedule shot to pieces. So far Rex is holding out very strong in regional competition due to QLink incompetence, not saying that Rex hasn't had it's moments but less of them. VA is QFs enemy in scale, Rex is a tiny player in the domestic market, so until they have 20+ aircraft plying the triangle I doubt QF will be doing other than they do, plus QF and VA hold the major share of peak slots for now.
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Old 26th Nov 2022, 21:46
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This slot issue keeps coming up
Don't really know what the answer is, however, for slots to be tied up by QF/JQ and VA to the point that the likes of REX or any other newcomer for that matter, can't obtain any peak hour slots can only be seen as either anticompetitive or duopolistic
Just as there are allowances for terminal space for smaller players, there should be something done for slots
3 suggestions
REX specific, allow a couple of regional slots to be converted for Jet ops
A few extra movements per hour during peak
Capping frequency to a maximum of 45 minutes between any city pair for any airline or 30 minutes for an airline group such as QF/JQ whilst encouraging them to use larger aircraft rather than greater frequency

That said, these slot issues may indeed sort itself out when SWA opens in a few years, or certainly should or some action would need to be taken
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Old 4th Dec 2022, 11:49
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Originally Posted by 1a sound asleep View Post
This is actually a very average result considering the strength of the market and huge profits at other airlines. The effective losses on the Saab fleet totally highlight that this is unsustainable - meaning that there is just no profits to pay for new replacement fleet. Too many of the Saabs are flying half empty and subsidised by the tax payer. Some of the routes are probably better off with Cessna Caravans


To be honest, the 737 fleet should make more than this to be long-lived. What happens when the Saabs are 40 years old?
Most of the Saabís are already 30-40 years old. They are at less than half life, cycle wise so thereís heaps left in them.
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Old 4th Dec 2022, 22:33
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Originally Posted by Stiff Under Carriage View Post
Most of the Saabís are already 30-40 years old. They are at less than half life, cycle wise so thereís heaps left in them.
lots of parts are losing support from their manufacturers and the engines are taking too long to refurbish overseas. Costs are sky rocketing from their own indecision
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Old 5th Dec 2022, 08:32
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Originally Posted by Ladloy View Post
lots of parts are losing support from their manufacturers and the engines are taking too long to refurbish overseas. Costs are sky rocketing from their own indecision
The costs of liability protection for a manufacturer supporting an old technology airframe will outstrip any but the most rapacious of profit margins. Old airframes are not a long term solution to reliable and profitable operations in a competitive market. Whatever advantages they gave should have been dedicated to fleet renewal. Except that there are no new technologies waiting in the wings as happened in the past.

Eventually all regional networks will be operating the same or similar cost aircraft and competing on network, service, value and reliability. Oh, and the ability to attract cockpit crews by an attractive renumeration/lifestyle blend. So, not Rex as currently managed.
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Old 30th Dec 2022, 23:07
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What’s doing with Rex and GE? Seems to be a lot of Saabs sitting around without engines. Or Rex focusing on 6 jets and forgetting their heart is in the country
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Old 30th Dec 2022, 23:35
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Originally Posted by SHVC View Post
Whatís doing with Rex and GE? Seems to be a lot of Saabs sitting around without engines. Or Rex focusing on 6 jets and forgetting their heart is in the country
Rex havenít sourced engines from GE for about 4 years.

There are parts issues with the ďnewĒ engine overhaul company as well as skill shortages since COVID.

They are looking to return to GE directly to increase reliability in the engines as the new place has been below par.
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Old 31st Dec 2022, 22:45
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Theyíre only just now thinking of returning to GE (the OEM) for engine overhaul?

If you pay peanuts, you get monkeys. Donít know why they stopped using GE in the first place.
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