Alliance Aviation (ASX:AQZ) Expands Fleet With 16 Additional Embraer E190

December 19, 2020 02:13 PM AEDT | By Team Kalkine Media

Alliance Aviation (ASX:AQZ) Expands Fleet With 16 Additional Embraer E190

Transaction Details

The aircraft is in a 99-seat two-class cabin configuration with eight seats for Business Class and four seats for Economy class with extra-legroom. Additionally, there are 80 seats for normal economy class.

The aircraft earlier managed by American Airlines will be delivered to the Company by November 2021. The first five aircraft are expected to be delivered in December 2020, followed by one aircraft delivery every month until November 2021.

By March 2021, the carrier is expecting E190 to secure the CASA Air Operator's Certificate. The E190 simulator bought as part of the Azzurra E190 transaction is in transit to Brisbane. The aircraft will be used for the initial and recurrent pilot training.

Alliance Aviation is expecting no material impact on its FY21 financial performance due to the latest acquisition. The full-year effect of the deal is expected in FY23.

On 18 December 2020, AQZ closed the day's trade at AUD 4.030, up by 5.497%.

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