- Alliance Aviation Services (AQZ) welcomes Qantas Airways’ (QAN) exercise of a wet lease agreement option for an additional four aircraft
- The wet lease agreement allows Qantas to exercise up to 18 aircraft options, leaving the company four remaining aircraft which may be exercised in the future if required.
- The four additional aircraft will begin operating for Qantas from March 27, with each option allowed to exercise for at least three years from effective date
- Alliance forecasts a significant increase in the utilisation of Aircraft 1-8 during March and beyond
- AQZ shares hold steady at $3.34 at market close
Alliance Aviation Services (AQZ) has welcomed Qantas Airways’ (QAN) exercise of a wet lease agreement option for an additional four aircraft.
The wet lease agreement allows Qantas to exercise up to 18 aircraft options from Alliance Aviation, based on market conditions. Today, Qantas has taken advantage of that option by calling up four more.
The four additional aircraft will begin operating for Qantas from March 27, with each option being for a period of at least three years from the effective date.
Qantas has now activated 14 E190 aircraft from Alliance Aviation, out of the full 18 available. The airline has the option to call up four remaining aircraft, which it may exercise in the future if required.
Additional flying using these aircraft is scheduled to commence on March 27 and is consistent with the guidance provided at the release of the 1H FY22 result.
Alliance forecasts a significant increase in the utilisation of Aircraft 1-8 during March and beyond.
AQZ shares hold steady at $3.34 at market close.