Yes, you are correct in your observations Miningnut. I was referring mainly to the first tranche of E190’s which are now spoken for in terms of locked in revenue producers as the logistic and operational ready costs are now sunk costs for us.
So, going forward they will generate free cash flow which will help defray debt and upcoming operational costs on the second E190 acquisition.
Im thinking these may not be as high in getting each plane operational ready because of (a) learnt experience with the first lot (b) the Rockhampton facility might mean cost savings (c) Alliances growing stature of providing Australian based stable jobs for crews.
I’ve heard from a friend whose son is a QAN pilot that there is dissatisfaction at crew level and Alliance is considered a good way of getting a stable flight gig so ‘home time’ is maximised. Those based in Brisbane at any rate.
Agree on your observations on cashflow. My very first calculation is to compare the Cash Ops with NPAT adjusted for non cash items. I should say Statutory NPAT and not any of this normalised NPAT mumbo jumbo.
Yes, you are correct in your observations Miningnut. I was...
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