Ann: Chairman's Address to Shareholders, page-25

On Sunday 23 January 2022, which is still Christmas school holidays and hence ought be busy given students in NSW and Victoria return on 25 or 28 January, REX northbound with its two Melbourne Airport to SYD flights was well loaded, with 155 and 148 seats occupied, so between the two, only 49 vacant seats, most of which were in economy class.

However southbound from SYD to Tullamarine Airport, it was a different story, with one flight having only three in business class and 53 passengers in economy, and the second respectively seven and 98.

So counting these four flights that in theory provide 704 seats, 244 seats were vacant. (From memory, the last row - six seats - is blocked off in economy for flight attendants. Perhaps these are the last to be used if a flight was fully booked).

That's an overall seat occupancy of 65.34 per cent, much better than on some other observed days but insufficient to be profitable at the fares REX charges.

Notably, it seems to do better on routes like Melbourne to the Gold Coast and Adelaide to Melbourne than on the Melbourne - Sydney sector.