Ann: AQZ Half Year Results Presentation, page-4

Record revenues and profits and increased dividend. Solid result with increased Aircraft in service.

Decline in Wet Lease hours and revenue (-34%) the only concern, this apparently due to a reduction in ad-hoc activity. Maybe the renewed arrangements with Virgin have something to do with this. Management is forecasting contracted wet lease hours to be stable in the second half but there is uncertainty for ad-hoc wet lease flights.

Management appears more cautious on the outlook for remainder of 2020FY. Contracted inbound tourism operations may be affected by the softening of visitor numbers into Australia.