Australia's Rex rises after signing partnership agreements with travel agencies

Web Travel

24/06/2022 03:43

** Shares of Australian domestic airline Regional Express
Holdings  REX.AX  rise as much as 3% to A$1.04, post their
biggest intraday pct gain since June 16
    ** Co says it has signed a 10-year agreement with Flight
Centre Travel  FLT.AX , a travel management firm, to become its
'partner of choice'  urn:newsml:reuters.com:*:nASX7WjZ73 
    ** Co also signed agreements with other travel managers
Helloworld Travel  HLO.AX , Webjet  WEB.AX , Corporate Travel
Management  CTD.AX  and Consolidated Travel  
    ** Agreements to take effect at the start of the financial
year beginning July 2022 
    ** Deals expected to more than double the firm's annual
domestic jet revenues in FY2023 without increasing fleet size
    ** Stock down 26.8% YTD, as of last close 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))