No surprise that 'Net Debt Outlook' and 'Debt Reduction Activities' were first slides in this presentation.
Alliance has significantly increased its long term debt (~800%) since 2020 to fund its fleet expansion, with a notable increase in financing through bank loans. Unfortunately, this during a period of interest rates hikes affecting its financing costs. Net interest expenses are trending higher:
Management contends its debt reduction program will enable consideration to reinstatement of dividends. History of earnings and forecast earnings suggest this may not materialise. Market sentiment is against it:
AQZ Price at posting:
$2.45 Sentiment: None Disclosure: Not Held
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(20min delay)