The Embraer Fleet Update provided the status of the aircraft and...

The Embraer Fleet Update provided the status of the aircraft and that "The full 30 aircraft are to be utilised for expansionary purposes".
When all 30 are revenue generating is still an unknown. This from their HY Results announcement:

Outlook
Alliance retains a positive outlook for the 2021 financial year with growth forecast for FY2022
and beyond based on:
• Additional capacity available for our existing contract and charter client base;
• The recently announced wet lease agreement with QANTAS is due to commence by
mid-2021 with three aircraft entering service with an option to increase to a total of 14
aircraft;
• Alliance will continue to pursue dry lease and other wet lease opportunities within
Australia and the Pacific. Alliance’s strategic goal is to become the pre-eminent wet
lease operator in these regions;
• RPT revenues are expected to continue to increase as border restrictions are lifted and
passenger movements increase;
• Aviation services revenue from part sales, engine and component leasing, aerodrome
services and other engineering activities is expected to increase as other carriers
increase capacity and fleet utilisation

Fleet Management & Expansion
During the half year Alliance announced the acquisition of 30 Embraer E190 aircraft with
settlement to occur between September 2020 and November 2021. Three aircraft have been
delivered to Australia and are expected to be deployed mid-2021. Due to the timing of the
deliveries and the deployment schedule it is forecast that the additional aircraft will not have a
material impact on the 2021 earnings however will increase earnings for the 2022 financial
year and beyond.

As Zandrax has pointed out there is nothing unexpected in todays announcement, yet share price up over 5%.
According to Market Screener there are 4 analysts with a mean consensus Buy and average target price of $5.09 suggesting material upside still to come. Hopefully as management make further announcements regarding the deployment of the new aircraft market sentiment will follow.