Alliance Aviation Services (ASX: AQZ) is a Brisbane-based provider of contract charter, FIFO, wet-lease and aviation maintenance services. It operates Fokker and Embraer aircraft for resources, energy, government, tourism and airline customers, with a core focus on connecting workforces to remote locations. Its integrated fleet, engineering and leasing capabilities support aircraft availability, operational reliability and diversified revenue across regional Australian aviation markets.

Raising up to A$40 million at A$0.70 per New Security through:

• An institutional placement to raise approximately A$20 million (“Placement”); and

• a 1 for 5.6 accelerated non-renounceable entitlement offer (“Entitlement Offer”) to raise approximately A$20 million comprising:

The Placement and the Entitlement Offer are together the “Offer”.

Discount

The Offer Price reflects a:

• 17.4% discount to the theoretical ex-rights price (“TERP”) of A$0.85 (including New Securities offered under the Placement); and
• 22.2% discount to the last closing price of A$0.90 on Friday, 21 August 2026.

Alliance Aviation Services Limited (ASX: AQZ) is an Australian aviation-services operator focused on delivering contract, charter and wet-lease capacity for resources, energy, government and airline customers. The business is particularly established in fly-in fly-out operations, providing workforce connectivity between metropolitan centres and remote regional or mine-site locations. Alliance also supplies aircraft, crew, maintenance and insurance under ACMI/wet-lease arrangements, allowing airline partners to add capacity without owning or operating the relevant fleet.

The company’s vertically integrated model includes aircraft engineering, maintenance, spare-parts management, leasing and operational support, providing control over fleet availability and operating reliability. Its fleet has historically included Fokker aircraft suited to remote and shorter-runway operations, alongside Embraer E190 regional jets. Alliance’s investment case is underpinned by its niche regional operating capability, contract-based revenue profile and exposure to demand for essential workforce and regional aviation services across Australia.

• Specialist aviation platform: Provides contract charter, FIFO and wet-lease/ACMI services to resources, energy, government and airline customers, addressing critical connectivity requirements in remote and regional Australia.
• Integrated operating model: In-house flight operations, engineering, maintenance, fleet management and leasing capabilities support aircraft availability, service reliability and operational control.
• Strategic Qantas relationship: Revised Qantas wet-lease terms include higher pricing effective 1 July 2026 and an annual escalation mechanism intended to better reflect future operating-cost inflation.
• Improved fleet flexibility: The Qantas committed E190 fleet is expected to reduce from 30 to 23 aircraft through FY27, potentially allowing Alliance to redeploy aircraft into FIFO, charter, ACMI or asset-sale opportunities.
• Established earnings base: The company reaffirmed FY26 underlying PBT guidance at the midpoint of its prior A$35–40 million range, before the principal benefits of the revised Qantas agreement commence in FY27.
• Balance-sheet reset: The proposed A$40 million fully underwritten equity raising is intended to strengthen the capital structure and support the company’s ongoing operational and fleet strategy.