@PortfolioPlus @Slideup

You've piqued my interest here. Substantially better operating margins and growth than something like Qantas!

I've emailed the company to see if their MD is available for an interview.

@Strawman Excellent. Thank you

So Alliance are keen but are in "blackout" until their results are out in August. We'll get them in then.

I hear you Slideup...and I have an email into Marc Devine requesting details of the wet leasing of the second tranche of E190's. I am presuming they are been used in the FIFO routes and not just sitting on the tarmac, though AQZ have always let it be known they like to have surplus capacity at all times to cater for emergencies and late order contracts. But gee, it would be great to get another 30 leased out to QAN, wouldn't it?

As to the parting out and the build up in the parts & services division, I am not concerned about this because I saw a similar business grow in PTB - taken private a few years ago and we made a very handsome capital gain. The mere fact they are talking about parting out up to 12 (now temporarily reduced to 7) suggests they see this as a viable way of realising on their E190's acquired and to be acquired. So definitely, a profit making division going forward. Plus do remember, the capital costs of bringing each E190 on line as a revenue producer (wet or dry lease) will now be significantly reduced because the costs of infrastructure are now in place as are the systems - almost a ''cookie cutter'' approach, now I would think. And the Rockhamption facility shoud see our costs of keeping the birds maintained will be cheaper than flying them overseas for such servicing.

Reading between the lines, there is a very good 'scratch my back & I scrach your back' relationship with AerCap. They clearly want to quit the planes and are offering generous vendor finance to achieve this result. That takes the heat off AQZ who, in the past, have been a little slack/sloppy in managing their financing arrangements.