Rex's "limited network" no threat to Qantas, says Joyce

Qantas CE Alan Joyce has brushed aside Rex’s threat to his business’ market share, arguing the regional airline will be hamstrung by its “limited network” and higher ticket prices. Joyce said, “We’re very confident in our relative position and what that means for our market share, which should be above 70 per cent going forward.” His comments come days after Rex started selling tickets for its new capital city routes between Sydney and Melbourne on 1 March, with plans to expand flights to Brisbane by Easter. It marks the first major new competitor for the so-called Golden Triangle in two decades. Joyce was speaking to the media after Qantas gave a quarterly update to the ASX, revealing it hopes to break even at an underlying level in the first half of this financial year, and be “net free cash flow positive”, excluding redundancies, in the second half. Qantas currently estimates it holds around 70% of the market, about 10 per cent more than it did pre-COVID.<br/>