Alliance Aviation Services (AQZ) AGM 2024 summary

Opening remarks and agenda

• Chairman welcomed attendees, outlined housekeeping, and confirmed quorum for the thirteenth AGM.

• Agenda included addresses from the chairman, managing director, and CEO, followed by formal business and resolutions.

Financial performance review

• Achieved record operational and financial results in FY24, including 104,544 flight hours, 73,116 lease hours, AUD 646.8 million revenue, and AUD 86.3 million profit before tax.

• Net cash inflows from operations rose 167% to AUD 109.3 million; capital expenditure reached AUD 226.9 million.

• Debt increased by AUD 101.8 million to fund aircraft acquisitions; 14 E190 aircraft settled in FY24.

• No dividend declared for FY24 due to capital commitments for fleet expansion.

Board and executive committee updates

• Two directors, David Crombie and Peter Housden, retired after long service.

• Shareholder approval sought for new non-executive directors James Jackson and Mark Stanton, both with extensive experience.

• CEO and CFO roles transitioned to Stewart Tully and Andrew Evans, respectively.