Steven Greenway to lead Alliance Aviation with $750,000 salary and incentives

Leadership Change Signals Strategic Next Phase

Alliance Aviation Services (ASX:AQZ) is preparing for a significant leadership transition as long-serving CEO Stewart Tully announces his departure after more than 11 years. Steven Greenway, a seasoned aviation executive with over 25 years of global experience, will take over as CEO on 1 October 2026. Tully will remain with the company until late October to ensure a smooth handover.

This change comes shortly after Alliance secured a materially improved wet lease agreement with Qantas, which includes a price increase and a smaller fleet footprint, reflecting a strategic recalibration of its operations. The timing suggests the board sees Greenway’s international expertise as pivotal in navigating this next chapter.

Greenway’s Aviation Credentials Span Four Continents

Steven Greenway’s resume reads like a tour of the aviation world’s diverse hubs. Most recently, he led flyadeal, the low-cost airline under Saudi Arabia’s Saudia Group, as CEO. Prior roles include executive leadership positions at WestJet and its subsidiary Swoop in North America, and senior commercial roles at Asia’s Scoot airline. His background also includes a stint as a partner at Mango Aviation Partners.

Alliance’s Chair, James Jackson, emphasised the board’s confidence in Greenway to build on the company’s operational and cultural foundations. The appointment is clearly designed to leverage Greenway’s global perspective as Alliance sharpens its focus on FIFO (fly-in-fly-out) specialist aviation services.

CEO Package Reflects Performance Incentives

Greenway’s employment terms include a fixed annual remuneration of $750,000, with a short-term incentive plan offering up to 50% of that for meeting targets and a maximum of 100% for exceptional performance. Additionally, he will receive 3 million options under a long-term incentive plan, aligning his interests with shareholder returns.

Stewart Tully’s tenure saw Alliance expand and diversify, strengthening customer ties and investing in fleet and engineering capabilities. His departure marks the end of an era but also the start of a fresh strategic push under new leadership.

Strategic Realignment Continues Post-Leadership Shift

The CEO transition dovetails with Alliance’s recent operational updates, including a fleet reduction from 30 to 23 aircraft and a realignment of workforce and operations following the Qantas deal. These moves aim to stabilise margins and position Alliance for sustainable growth in a competitive market.

Greenway’s international experience may prove critical as Alliance navigates these adjustments, balancing the demands of major contracts with operational efficiency. The company’s status as Australasia’s leading ACMI and charter provider, servicing mining, energy, and government sectors, remains a core strength.