Alliance Airlines (QQ, Brisbane International) said it is “right-sizing” its business after revising its wet lease agreement with Qantas (QF, Sydney Kingsford Smith). “The impact of the revised wet lease agreement on the financial performance of Alliance will also depend on the impact of the associated operational initiatives and the organisational changes,” the carrier said.

Alliance Airlines had been prompted to issue the statement on the matter after the Australian Securities Exchange had temporarily halted trading in Alliance shares. The exchange requested clarification on the airline’s expected material improvement in profit after the wet lease agreement revision. In its statement, Alliance said it expects full-year 2027 underlying profit before tax to come in between AUD55 million Australian dollars (USD38.8 million) and AUD60 million (USD42.4 million).