Rex Q1 profit falls

Regional Express has recorded a 22.9 per cent fall in net profit during the first quarter of the 2010 financial year as revenues fell during the three month period.

The airline recorded a net profit after tax of $3.7 million as passenger numbers fell by 12.9 per cent, while average fares were 1.8 per cent lower. Total revenue was down by 14.6 per cent to $56.9 million.

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