The Regional Express Holdings Ltd (ASX: REX) share price is having a good day on the ASX today but the boost isn't enough to combat its recent poor performance.
The REX share price has slid 6% over the last 30 days despite releasing no news to the market. It's currently trading at $1.525, 3% higher than its previous close.
Meanwhile, fellow ASX airline Qantas Airways Limited (ASX: QAN) has seen its share price take off. While it's in the red today, Qantas' stock is currently trading for 3% more than it was this time last month.
So, what's causing one airline's shares to nosedive while the other's soar? Let's take a look.
REX share price plummets, Qantas' takes off
The REX share price's recent tumble might have stemmed from a lack of news rather than any negative updates.
The last time the market heard price-sensitive news from REX was in late September when the airline announced it would resume flights on 31 October following an extended standdown.
The airline's predicted restart aligned with when it expected its frontline staff to be fully vaccinated against COVID-19. The company announced in a press release that it achieved this goal on 1 November.
REX plans to restart its regional New South Wales services, and flights between Melbourne, Sydney, and Canberra from 15 November. Flights between Melbourne and Adelaide will take off from 26 November. Finally, flights to the Gold Coast from Sydney and Melbourne will begin on 17 December.
Meanwhile, Qantas has graced the market with 2 price-sensitive announcements over the last month.
First, it sold 13.8 hectares of land in Sydney's Mascot for $802 million. The funds will be put towards paying off the airline's debt.
Then, on 22 October, Qantas announced it was bringing forward its plans to get back into international airspace.
The airline and its budget leg, Jetstar, will both be taking off more than 4 weeks earlier than planned after New South Wales and Victoria opened their borders to international travel on 1 November.
Since Australia's international borders reopened – at least in New South Wales and Victoria – the Qantas share price has gained 7%.
Sadly, the REX share price hasn't enjoyed such a boost. Most likely because it only operates domestic services.
