ALLIANCE Aviation Services today announced a $120 million capital raising plan aiming to boost capacity to service new demand including from domestic tourism operators, tourism boards and regional councils.
Despite the impact of COVID-19 on global aviation, Alliance has continued to flourish due to its diverse business model, focus on contract flying and ability to react quickly to the changing environment.
“Alliance believes it is now in an enviable position and is looking to invest for future growth,” the carrier told investors today.
The airline, which is 20% owned by Qantas and operated a range of regional routes on behalf of Virgin Australia, said it intends to acquire additional 80-100 seat jet aircraft to take advantage of growth opportunities.
Alliance is seeing more demand from existing resource sector customers wanting to mitigate COVID-19 risks, and its expansion comes despite the suspension of its wet lease arrangements with Virgin Australia, as well as contracted inbound tourism services which are not expected to return to normal levels until at least 2021/22.
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Source: traveldaily