Regional Express Holdings Limited (ASX:REX) has seen its full year net profit slide almost 45 per cent to $7.7 million.
The Regional airline has conceded that the airline industry is in crisis and revenue for the 12 months to June 2014 was down 1.9 per cent to $253.3 million.
Executive Chairmen Lim Kim Hai says despite the hardship REX remains Australia’s most profitable listed passenger airline for the third year running.
Mr Hai says the year ahead is uncertain but with muted optimism the company has the capability to ride out the crisis.
No dividend has been declared.
