Whichever way you cut it, this announcement tells me risks with their fleet expansion are increasing. A 36% reduction in plan to aircraft being parted out just seven weeks after what Management presented to shareholders, will have cash flow implications.
I was a holder for many years, exiting shortly after the failed Qantas takeover. I still closely follow. Management may have a long recordof opportunistically purchasing aircraft and realising exceptional value by deployment, sale or lease, but their history in managing working capital requirements to fund large fleet expansions has been poor.
AQZ Price at posting:
$2.90 Sentiment: None Disclosure: Not Held
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