Alliance Aviation Services Limited · ASX:AQZ
Alliance Aviation Services — FY2026 Earnings Presentation
57 slides from Alliance Aviation Services's earnings presentation, Aug 26, 2026
Slide 1: Built on Safety: FY26 Results and Capital Raising Presentation
Built on Safety FY26 Results and Capital Raising Presentation 26 August 2026
Slide 2: Disclaimer
Disclaimer FY26 RESULTS AND CAPITAL RAISING PRESENTATION The information contained in this presentation (Presentation) has been prepared by Alliance Aviation Services Limited (ACN 153 361 525) (Alliance or the Company) and is dated 26 August 2026. Pursuant to ASX Listing Rule 15.5, Alliance confirms
Slide 3: Disclaimer
Disclaimer FY26 RESULTS AND CAPITAL RAISING PRESENTATION This Presentation is for information purposes only and is not a prospectus, product disclosure statement or other Offering document under Australian law or any other law (and will not be lodged with the Australian Securities and Investments Co
Slide 4: Disclaimer
Disclaimer FY26 RESULTS AND CAPITAL RAISING PRESENTATION Past performance Past performance, including past share price performance of Alliance and historical financial information given in this Presentation, is given for illustrative purposes only and should not be relied upon as (and is not) an ind
Slide 5: Disclaimer
Disclaimer FY26 RESULTS AND CAPITAL RAISING PRESENTATION To the maximum extent permitted by law, Alliance and the Lead Manager and their respective related bodies corporate and affiliates, and their respective officers, directors, employees, agents and advisers: (i) disclaim all responsibility and l
Slide 6: Agenda
Agenda FY26 RESULTS AND CAPITAL RAISING PRESENTATION Executive Summary 6 FY26 Financial Performance 12 Operational Initiatives 19 Balance Sheet Initiatives 23 Strategy & Outlook 29 Alliance Aviation Service Limited Questions 32 Appendices 33 05
Slide 7: Executive Summary
06 Alliance Aviation Service Limited FY26 RESULTS AND CAPITAL RAISING PRESENTATION RESULTSPRESENTATION James Jackson, Chairman Summary Executive
Slide 8: FY26 Overview
FY26 Overview FY26 RESULTS AND CAPITAL RAISING PRESENTATION Delivered $38.2m underlying profit before tax, within guidance range of $35-40m. Strategic reset and performance improvement program commenced in 2H26 with next phase of business right- sizing initiatives underway in 1H27 to better align th
Slide 9: Financial Overview
Financial Overview FY26 RESULTS AND CAPITAL RAISING PRESENTATION FY26 results reflect the impact of operational challenges and portfolio reset actions, with recovery initiatives underway Underlying Revenue1,2 Underlying EBITDA Underlying H2 EBITDA Underlying Profit before tax $712.6m $177.5m $90.1m
Slide 10: Strengthened Alliance Aviation
Strengthened Alliance Aviation FY26 RESULTS AND CAPITAL RAISING PRESENTATION Operational and capital structure initiatives aimed at improving performance and strengthening balance sheet to drive shareholder returns Operational initiatives Balance sheet initiatives Qantas contract negotiation: revise
Slide 11: Alliance Today
Alliance Today1 PRESENTATION RAISING PRESENTATION Australia’s leading provider of contract and charter services to blue-chip companies FY26 RESULTS AND CAPITALRESULTS Long-term, recurring contracted revenues with blue chip Aircraft2 Flight hours in On-time performance customer base FY26 Strong asset
Slide 12: FY27 Outlook
FY27 Outlook FY26 RESULTS AND CAPITAL RAISING PRESENTATION Management expects improved earnings, cash generation and balance sheet strength in FY27 Balance Sheet Outlook FY27 Guidance Net Debt 30 June 2026: $460 million Underlying EBITDA between $175 million to $190 million. Equity Raise net proceed
Slide 13: FY26 Financial Performance
12 Alliance Aviation Service Limited FY26 RESULTS AND CAPITAL RAISING PRESENTATION Simon Vertullo, Interim Chief Financial Officer Performance FY26 Financial
Slide 14: Underlying Income statement
Underlying Income statement1 FY26 RESULTS AND CAPITAL RAISING PRESENTATION Full Year FY26 30 June 30 June 2026 2025 PCP Underlying revenue declined 7.4% to $712.6m, primarily reflecting the $ million Actual Actual change planned cessation of Aviation Trading and lower wet lease activity. Revenue Und
Slide 15: Underlying EBITDA Bridge
Underlying EBITDA Bridge FY26 RESULTS AND CAPITAL RAISING PRESENTATION FY26 Underlying EBITDA was impacted by planned lower Aviation Services earnings and higher maintenance costs, partially offset by FIFO contract revenue growth FY26 Underlying EBITDA to FY25 Underlying EBITDA ($m) ($29.8m); (14.4%
Slide 16: Underlying PBT increased 61% in H2
Underlying PBT increased 61% in H2 FY26 RESULTS AND CAPITAL RAISING PRESENTATION Underlying Profit before tax (PBT) increased by $9.0m to $23.6m in H2, supported by higher contract revenue, lower repairs and maintenance expenditure and reduced employee costs, partially offset by lower wet lease reve
Slide 17: Statement of financial position
Statement of financial position FY26 RESULTS AND CAPITAL RAISING PRESENTATION 30 June 30 June 2026 2025 PCP $ million Actual Actual change Total assets decreased 8% to $1.10bn, primarily reflecting the Fokker fleet Cash 29.2 96.5 impairment and write-down of related inventory and assets. Receivables
Slide 18: Capital expenditure
Capital expenditure FY26 RESULTS AND CAPITAL RAISING PRESENTATION Capex reduced materially from FY25 as fleet expansion moderated, but 30 June 30 June Alliance continued to invest in fleet renewal and maintenance capability. 2026 2025 $ million Actual Actual Total capital expenditure decreased 40% t
Slide 19: Cash management improved in H2
Cash management improved in H2 FY26 RESULTS AND CAPITAL RAISING PRESENTATION FY26 cash flow reflects elevated fleet investment, with cash performance strengthening in H2 through lower capex and working capital requirements. FY26 Cashflow Bridge ($m) ($38.1m) ($29.2m) 87.4 90.1 (31.0) (19.2) 96.5 16.
Slide 20: Operational Initiatives
19 Alliance Aviation Service Limited FY26 RESULTS AND CAPITALRESULTS PRESENTATION RAISINGPRESENTATION Initiatives Operational Stewart Tully, Managing Director and Chief Executive Officer
Slide 21: Wet lease update
Wet lease update FY26 RESULTS AND CAPITAL RAISING PRESENTATION Qantas agreement reset positions Alliance to improve returns Revised contract terms strengthen the economic sustainability of Alliance's largest wet-lease arrangement Key improvements include: A meaningful increase in pricing commencing
Slide 22: Meaningful progress on strategic turnaround
Meaningful progress on strategic turnaround FY26 RESULTS AND CAPITAL RAISING PRESENTATION Progress against half-year priorities provides a stronger platform for profitability, cash generation and disciplined growth Improve sales & customer Improve capital allocation Improve free cash flow management
Slide 23: Cost Optimisation Program
Cost Optimisation Program FY26 RESULTS AND CAPITAL RAISING PRESENTATION Actions already delivered meaningful cost reductions, with further margin benefits expected 2H26 saw improved cost discipline across the organisation with labour costs declining 15.3%, versus a 14% reduction in overall block hou
Slide 24: Balance Sheet Initiatives
23 Alliance Aviation Service Limited FY26 RESULTS AND CAPITALRESULTS PRESENTATION RAISINGPRESENTATION Initiatives Simon Vertullo, Interim Chief Financial Officer Balance Sheet
Slide 25: Equity Raising Summary
Equity Raising Summary1 FY26 RESULTS AND CAPITAL RAISING PRESENTATION • AQZ is undertaking a fully underwritten $40 million equity raising (“Equity Raising”) of new ordinary shares (“New Shares”) via a: – 1 for 5.6 pro rata accelerated non-renounceable entitlement offer (“Entitlement Offer”) to rais
Slide 26: Sources and Uses
Sources and Uses FY26 RESULTS AND CAPITAL RAISING PRESENTATION Operational and capital structure initiatives already announced to the market support a deleveraging profile targeting approximately 2.1x by Jun-271 Equity raising sources and uses of funds ($m) Proceeds from the Equity Raising will be u
Slide 27: Pro Forma Balance Sheet
Pro Forma Balance Sheet FY26 RESULTS AND CAPITAL RAISING PRESENTATION The Equity Raising reduces pro forma Jun-26 Net debt / EBITDA to 2.5x, targeting approximately 2.1x by Jun-27 Pro Forma Balance Sheet ($m) Net Debt1,2 ($m) 460 420 30 June 2026 30 June 2026 $ million Reported Offer Pro forma Total
Slide 28: Debt Facility Overview
Debt Facility Overview FY26 RESULTS AND CAPITAL RAISING PRESENTATION Extension of debt facilities provides time and flexibility for the business to operate continually Pro forma debt maturity profile ($m) 4.0 Lenders are supportive of AQZ management’s business plan 161.7 ANZ provided an extension of
Slide 29: Equity Raising Timetable
Equity Raising Timetable FY26 RESULTS AND CAPITAL RAISING PRESENTATION Event Date Announcement of Institutional Placement and Entitlement Offer Wednesday, 26 August 2026 Institutional Placement and Institutional Entitlement Offer opens Wednesday, 26 August 2026 Institutional Placement and Institutio
Slide 30: Strategy & Outlook
29 Alliance Aviation Service Limited RAISING PRESENTATION FY26 RESULTS AND CAPITAL RESULTS James Jackson, Chairman Outlook Strategy & 29
Slide 31: Leadership transition supports the next phase
Leadership transition supports the next phase FY26 RESULTS AND CAPITAL RAISING PRESENTATION Leadership transition is orderly, strategically timed and aligned to the next phase of execution Stewart Tully to step down as Managing Director and CEO after more Steven Greenway Summary Bio than 11 years wi
Slide 32: FY27 Outlook
FY27 Outlook FY26 RESULTS AND CAPITAL RAISING PRESENTATION Management expects improved earnings, cash generation and balance sheet strength in FY27 Balance Sheet Outlook FY27 Guidance Net Debt 30 June 2026: $460 million Underlying EBITDA between $175 million to $190 million. Equity Raise net proceed
Slide 33: Questions
32 Alliance Aviation Service Limited FY26 RESULTS AND CAPITALRESULTS PRESENTATION RAISINGPRESENTATION Questions
Slide 34: Appendix A: FY26 results
33 Alliance Aviation Service Limited FY26 RESULTSAND FY26RESULTS CAPITALRAISING ANDCAPITAL PRESENTATION RAISINGPRESENTATION FY26 results Appendix A
Slide 35: Reconciliation of Results
Reconciliation of Results FY26 RESULTS AND CAPITAL RAISING PRESENTATION FY26 Income Statement 30 June 30 June 2026 2026 $ million Underlying Adjustment Statutory Revenue Contract Revenue 319.2 319.2 Charter Revenue 20.3 20.3 Wet Lease Revenue 313.1 (0.6) 312.6 RPT Revenue 11.1 11.1 Aviation Services
Slide 36: Cashflow bridge
Cashflow bridge FY26 RESULTS AND CAPITAL RAISING PRESENTATION FY26 cash flow reflects fleet capex, aircraft acquisitions and engine deposits FY26 Cashflow Bridge ($m) 177.5 24.9 (25.3) (25.0) 96.5 (135.6) Alliance Aviation Service Limited (26.6) 6.5 (31.9) 29.2 (31.8) EBITDA Inventory - Other Fleet
Slide 37: Operational Metrics
Operational Metrics PRESENTATION RAISING PRESENTATION FY26 RESULTS AND CAPITALRESULTS 30 June 30 June Aircraft1 Flight hours On-time 2026 2025 Performance 80 ~110k Actual Actual Aircraft in Service – Fokker Aircraft in Service – Embraer 35 45 36 43 95% Aircraft in Service – Total 80 79 Flight Hours
Slide 38: National footprint contract charter
National footprint contract charter FY26 RESULTS AND CAPITAL RAISING PRESENTATION Alliance has crew and engineering bases in most Australian capital cities, and several regional ports being Townsville, Cairns, Darwin and Rockhampton. This is a notably greater regional presence than other Australian
Slide 39: National footprint contract wet lease
National footprint contract wet lease FY26 RESULTS AND CAPITAL RAISING PRESENTATION Alliance’s wet lease operations are based on our customers’ seasonal schedules. Alliance Aviation Service Limited Map shows routes connecting Australian ports/cities to Noumea, Port Vila and Honiara 38
Slide 40: Commodity exposure
Commodity exposure FY26 RESULTS AND CAPITAL RAISING PRESENTATION Major commodity exposure Gold 30% as a percentage of revenue from top 15 contracted Iron Ore 18% FIFO clients in year ended Copper-Gold-Uranium 14% 30 June 20261. Silver-Lead-Zinc 8% Manganese 8% Copper-Gold 7% Alliance Aviation Servic
Slide 41: Appendix B: Key risks
40 Alliance Aviation Service Limited FY26 RESULTS AND CAPITALRESULTS PRESENTATION RAISINGPRESENTATION Key risks Appendix B
Slide 42: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION This section includes details of the key risks attaching to an investment in Shares together with risks relating to participation in the Offer. These risks may affect the future operating and financial performance of Alliance and the value of S
Slide 43: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION (b) A reduction in the level of mining activity The Group’s key FIFO customers are concentrated in the mining and energy sector. The level of activity in these sectors is principally affected by the prevailing or predicted future commodity pric
Slide 44: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION (f) Alliance may lose key customers Alliance derives much of its revenue from a number of key customers. The loss or impairment of any of these relationships may adversely impact the Group’s revenue and profitability. Whilst the loss of a custo
Slide 45: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION (k) An accident or incident may occur The Group’s activities involve the operation of aircraft and other heavy machinery, with resulting risk to both property and personnel. If an accident or incident occurs that results in serious injury or de
Slide 46: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION (n) Alliance’s fleet may experience mechanical issues or spare parts may be unavailable Alliance currently operates a fleet of Fokker aircraft that are no longer in production. While Alliance holds an extensive inventory of Fokker spare parts,
Slide 47: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION (r) Inability to pass on costs to customers Alliance’s FIFO and wet lease contracts generally contain price adjustment clauses, which enable Alliance to pass on variations in certain costs such as inflation, foreign exchange, increased maintena
Slide 48: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION (w) The Group is exposed to currency fluctuations The Group has transactional currency risks arising from receivables and payables in currencies other than the Group’s functional currency, being the Australian dollar. The currencies giving rise
Slide 49: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION (aa) The Group may be exposed to credit risk Credit risk for the Group arises from cash and cash equivalents, held to maturity investments, favourable derivative financial instruments and deposits with banks and financial institutions, as well
Slide 50: Key risks
Key risks FY26 RESULTS AND CAPITAL RAISING PRESENTATION 1.2 GENERAL RISKS (a) Risks associated with an investment in shares There are general risks associated with investments in equity capital. The trading price of Shares may fluctuate with movements in equity capital markets in Australia and inter
Slide 51: Appendix C: Foreign selling restrictions
50 Alliance Aviation Service Limited FY26 RESULTS AND CAPITALRESULTS PRESENTATION RAISINGPRESENTATION Appendix C Foreign selling restrictions
Slide 52: International Offer Restrictions
International Offer Restrictions FY26 RESULTS AND CAPITAL RAISING PRESENTATION This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the
Slide 53: International Offer Restrictions
International Offer Restrictions FY26 RESULTS AND CAPITAL RAISING PRESENTATION Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this docu
Slide 54: Appendix D: Underwriting Agreement Summary
53 Alliance Aviation Service Limited FY26 RESULTS AND CAPITALRESULTS PRESENTATION RAISINGPRESENTATION Summary Appendix D Underwriting Agreement
Slide 55: Underwriting Agreement Summary
Underwriting Agreement Summary FY26 RESULTS AND CAPITAL RAISING PRESENTATION Barrenjoey is acting as underwriter and lead manager (Lead Manager) of the Equity Raising. Alliance has entered into an underwriting agreement with the Lead Manager (Underwriting Agreement) under which the Lead Manager has
Slide 56: Underwriting Agreement Summary
Underwriting Agreement Summary FY26 RESULTS AND CAPITAL RAISING PRESENTATION • there is an event or occurrence, including any statute, order, rule, regulation, directive or request (including one compliance with which is in accordance with the general practice of persons to whom the directive or req
Slide 57: Thank You
56 Alliance Aviation Service Limited FY26 RESULTS AND CAPITALRESULTS PRESENTATION RAISING PRESENTATION T H A N K Y O U
Alliance Aviation Services — FY2026 Earnings Presentation on 6ix