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Alliance Aviation Services Limited (ASX:AQZ)

ALERT: Price-sensitive ASX Announcement for AQZ
Current share price for AQZ : $0.535 -0.365 (-40.56%)+
Announcement
Release
20 Feb 2026 8:16AM
Price at Release
$0.900
Full Release
download
Summary
Alliance Aviation Services Limited, trading as AQZ, reported challenging financial results for the first half of FY26. The company faced significant statutory losses, with a Net Profit After Tax (NPAT) of ($105.8m) due to a $164.8m impairment of its Fokker fleet and write-downs of inventory. Despite increased revenues and record flight hours, profitability was adversely affected by a commercially unviable wet-lease arrangement, higher maintenance costs, and expenses from the AVIAN program. The company's operational turnaround plan focuses on capital allocation, divesting non-core assets, improving free cash flow, and enhancing contract quality. Alliance has ceased aircraft trading activities and provides a revised FY26 Profit Before Tax (PBT) guidance of $35-40m. The core FIFO (Fly-In-Fly-Out) business remains resilient, benefiting from a positive resources sector outlook.
Key Points
  • Statutory NPAT of ($105.8m) due to $164.8m impairment.
  • Increased revenues and record flight hours.
  • Profitability impacted by commercially unviable wet-lease arrangement.
  • Higher maintenance costs and AVIAN program expenses.
  • Operational turnaround plan focusing on capital allocation and contract quality.
  • Ceased aircraft trading activities.
  • Revised FY26 PBT guidance of $35-40m.
  • Core FIFO business remains resilient.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.