Australia's Regional Express Holdings reported a net profit of A$24.3 million for the fiscal year ended June 30, up 3% from the prior year. Fourth-quarter profit climbed 31.7% year-over-year to A$8.3 million despite the fact that Rex is entirely unhedged. Executive Chairman Lim Kim Hai said 2008-09 earnings should "remain at relatively the same levels" assuming the price of fuel and the US dollar are static. Rex operates 38 Saab 340s to 23 Australian destinations.

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