Alliance Aviation Services Ltd, the holding company of Alliance Airlines (QQ, Brisbane International), has signed a deal with Pricoa Private Capital for a private placement shelf facility of up to USD100 million. Alliance confirmed the arrangement in a profit guidance note filed with the Australian Stock Exchange (ASX) on July 13. Pricoa is part of the Prudential Financial Group.
The filing says Alliance will use the funding to pay for future aircraft settlements and to meet working capital requirements. The notes, which will be issuable in either USD or AUD over the next three years, will have maturity dates of up to ten years. Alliance has a history of working with Pricoa, including taking out a series of fixed-rate institutional loans from them in 2021.
Separately, Alliance also said it had signed a contract with Azorra to purchase four E190s. "These airframes have a long maintenance life remaining and are the 'sister ships' to the aircraft being acquired in the AerCap deal." The four aircraft, which are sold without engines, will be delivered to Alliance from August 2023 in Costa Rica. Alliance says it will ferry over spare engines to fit to the aircraft, with the aim of introducing them into service between November 2023 and March 2024. It brings the total number of E190s that Alliance Airlines operates or is contracted to acquire to 67.
