Regional Express Holdings
| Type | Public (ASX: REX) |
|---|---|
| Industry | Aviation |
| Founded | 2002 |
| Headquarters | Sydney, Australia |
| Key people | Lim Kim Hai, Chairman John Sharp, Deputy Chairman Jim Davis, Managing Director |
| Products | Airlines, air cargo, air charter |
| Revenue |  A$229.7 million (2010)[1] |
| Net income |  A$24.63 million (2010) |
| Employees | 600+ |
| Website | http://www.rex.com.au |
Regional Express Holdings is the parent company of a number of airline and associated companies in Australia. It is based in Mascot, New South Wales (a suburb of Sydney) and is a public listed company on the Australian Stock Exchange.
Contents |
[edit] Corporate Structure and History
Regional Express Holdings had its origins in the aftermath of the collapse in 2001 of Ansett Airlines, which was the parent company of Kendell Airlines and Hazelton Airlines. A group of Singaporean investors and a collection of Australian private investors saw an opportunity to purchase the Hazelton and Kendell businesses, which were profitable entities before they were taken over by Ansett. The investors formed a company called Australiawide Airlines, which was officially incorporated on 12 February 2002. The assets of the two airlines were purchased by Australiawide and merged together to form the airline Regional Express, known as Rex. in 2005 the owners of Australiawide decided to offer a percentage of their shares (35 million out of 115 million shares, or 30.43%) in the company to the public in a float[2][3]. At the same time an agreement was reached with the owners of Pel-Air that, subject to certain conditions, Australiawide would purchase Pel-Air[4].
As part of the public float process, Australiawide Airlines' name was changed to Regional Express Holdings. Regional Express Holdings is the owner of a number of other companies[5]. The main asset is Regional Express Pty. Ltd., which owns another airline - Dubbo-based Air Link. Another company is Rex Freight and Charter Pty. Ltd., which is the company that owns Pel-Air. The third subsidiary company is Rex Investment Holdings Pty. Ltd., which as of September 2007 is dormant.
[edit] References
* Thorn, Jim. "Interview - Michael Jones, CEO Regional Express". Australian Aviation magazine, No. 187, September 2002, p30-34. Aerospace Publications Pty. Ltd. ISSN 0813-0876
[edit] Footnotes
- ^ Creedy, Steve (26 August 2010). "Rex books record profit, but bumpy ride ahead". The Australian. http://www.theaustralian.com.au/business/rex-books-record-profit-but-bumpy-ride-ahead/story-fn65t1pq-1225910110660. Retrieved 26 August 2010.
- ^ Rex Initial Public Offering Media Release retrieved on 26 September 2007.
- ^ Rex Share Offer Media Release retrieved on 26 September 2007.
- ^ Rex Invests in Pel-Air Media Release retrieved on 26 September 2007.
- ^ Regional Express Holdings Corporate structure retrieved 26 September 2007.
