Rex Purchases Seven Saab 340B Plus Aircraft

Regional Express (Rex) today announced that it has purchased seven latest generation Saab 340B plus aircraft. The aircraft were originally operating in the Rex fleet under a lease which expired on 2 July 2013. The acquisition was funded by Rex’s operating cash flows.

The purchase brings the number of Saab 340 aircraft owned by Rex to 33.

Commenting on the deal, Rex Chief Operating Officer Garry Filmer said, “These seven aircraft are part of the 25 advanced 34 seat Saab 340B plus aircraft that Rex committed to leasing from Saab Aircraft Leasing in late 2006 as part of its fleet modernisation and
expansion programme. With a remaining useful life of at least another 15 years, the Saab 340s with their low operating cost and fuel efficient engines will continue to provide sterling service on the Rex network.”

“Rex intends to purchase the remaining 18 aircraft when they come off lease in March 2014.”