News: AQZ Alliance Aviation Services Has Entered Into A New Airline Services Contract With South32, page-3

A very positive announcement of the renewal of the South32 contract. Sounds as if there is an extension of existing flights to now include Darwin to Groote Eylandt (which I think are currently flown by Air North). As DalyWaters points out, there are plenty of other opportunities out of Darwin. AQZ announced last year that it was to base two F70’s and a F100 in Darwin, so increased flying of these aircraft will be earnings accretive. The rumoured sale of Air North by Bristow doesn’t appear to have gone anywhere fast over the last 12 months - no doubt all the harder now with loss of FIFO contracts and the Covid-19 disruption.

The last contract extension by AQZ with South32 was announced on July 2016 and was stated to be for three years. There appears to have been some time slippage in this renewal - maybe it wasn’t all clear air flying? Ten year term is massive however.