Alliance Aviation Services (ASX: $AQZ) 2023 Aircraft Acquisition Programme update

Alliance Aviation Services Limited (ASX: $AQZ) has provided an update on its 2023 Aircraft Acquisition Programme, revealing a delay in the delivery of the aircraft. The company has settled and received 7 out of the 30 Embraer E190 jet aircraft as part of the programme. The remaining purchase of the 30 aircraft is now estimated to cost between $128 million and $144 million, with only 12 aircraft expected to settle during 1 January 2024 to 31 December 2024.

Executive Commentary on Funding and Fleet Expansion

The Managing Director, Scott McMillan, emphasized the significance of the 2023 Aircraft Acquisition Programme as a growth initiative for Alliance. He highlighted the successful implementation of the programme and the securing of funding, underscoring the company's strong financial status and long-term contracted revenue streams from an investment grade customer base.

Summary of Alliance Aviation Services update

Alliance Aviation Services has provided an update on its 2023 Aircraft Acquisition Programme, revealing a delay in the delivery of the aircraft and revised cost estimates. The company has secured funding through a standby vendor financing commitment letter with AerCap and an extended and upsized facility from ANZ to support its fleet expansion. The Managing Director highlighted the importance of fleet ownership to the company's business model and the successful implementation of the growth initiative. Alliance's strong financial status and long-term contracted revenue streams from an investment grade customer base were emphasized as key strengths.