Rex - Regional Express (ZL, Wagga Wagga) has purchased eighteen Saab 340Bs following the expiration of their leases in late March. According to the carrier, these aircraft were part of a group of 25 turboprops it had leased previously. The other seven Saabs were purchased when their leases expired on July 1, 2013.
“Rex committed to leasing these aircraft in late 2006 as part of its fleet modernisation and expansion programme. Upon lease expiry we had the opportunity of purchasing them at advantageous rates. The purchase also means that the savings on lease payments will contribute significantly to improvement on the bottom line," REX Chief Operating Officer, Garry Filmer, said.
The acquisition was partly funded by Rex’s operating cash flows with the rest from bank financing.
REX operates forty-seven Saab 340 aircraft to 36 destinations throughout New South Wales, Victoria, Tasmania, South Australia and Queensland.
