Alliance Aviation Services (ASX: $AQZ) Trading Update

Alliance Aviation Services Limited (ASX: $AQZ) has provided a trading update, anticipating a record profit before tax for the financial year ending 30th June 2024. The company is confident that the profit before tax will surpass the consensus forecast of $83.9 million, representing a significant increase of over 60% compared to the previous financial year.

Executive Commentary on Record Profit Before Tax

The company is pleased to announce the anticipated record profit before tax, which reflects our continued commitment to operational excellence and the successful sale of five General Electric CF-34-10 engines from recently parted out E190 aircraft. This achievement reinforces the significant contribution of our Aviation Services operation to the company's revenue mix. We remain focused on delivering value to our stakeholders and sustaining our position as a leading provider of aviation and maintenance services in Australasia.

Summary of Alliance Aviation Services Update

Alliance Aviation Services anticipates a record profit before tax for the financial year ending 30th June 2024, exceeding the consensus forecast by over 60%. The company attributes this anticipated achievement to the successful sale of five General Electric CF-34-10 engines from recently parted out E190 aircraft, reinforcing the integral role of its Aviation Services operation in the company's revenue mix. With a fleet composition that includes 38 Fokker 70/100 aircraft and 43 Embraer E190 aircraft, Alliance remains committed to providing essential aviation and maintenance services to various sectors. The company's operational bases in multiple Australian cities and its world-leading operational performance position it as a key player in the industry. Looking ahead, Alliance aims to sustain its operational excellence and continue delivering value to its stakeholders.