Regional Express Holdings

Infobox_Company
company_name = Regional Express Holdings
company_
company_type = Public (ASX|REX)
foundation = 2002
location = flagicon|AUS Sydney, Australia
key_people = Lim Kim Hai, Chairman
John Sharp, Deputy Chairman
Geoff Breust, Managing Director
num_employees = 600+
industry = Aviation
products = Airlines, air cargo, air charter
revenue = (2007) $225 million
net_income = (2007) $23.6 million
homepage = http://www.rex.com.au
intl = No

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.

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 February 12 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 [ [http://www.rex.com.au/corp_info/ShowNews.aspx?nid=42&page=MC Rex Initial Public Offering] Media Release retrieved on 2007-09-26.] [ [http://www.rex.com.au/corp_info/ShowNews.aspx?nid=48&page=MC Rex Share Offer] Media Release retrieved on 2007-09-26.] . At the same time an agreement was reached with the owners of Pel-Air that, subject to certain conditions, Australiawide would purchase Pel-Air [ [http://www.rex.com.au/corp_info/ShowNews.aspx?nid=38&page=MC Rex Invests in Pel-Air] Media Release retrieved on 2007-09-26.] .

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 [ [http://www.rex.com.au/AboutRex/OurCompany/Subsidiaries.aspx Regional Express Holdings Corporate structure] retrieved 2007-09-26.] . 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.

References and Sources

References

ources

* [http://www.rex.com.au Rex Website]
* Thorn, Jim. "Interview - Michael Jones, CEO Regional Express". "Australian Aviation" magazine, No. 187, September 2002, p30-34. Aerospace Publications Pty. Ltd. ISSN 0813-0876