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Al90.4Y4.4Ni4.3Co0.9 gas-atomized powder was hot pressed (HP) to produce highly dense bulk samples through combined devitrification and consolidation. The microstructure of the as-atomized powder is a mixture of amorphous phase with nanocrystalline fcc Al, whereas the consolidated samples consists of fcc Al and a series of intermetallic phases with or without residual amorphous phase depending on the hot pressing temperature (673 or 723 K). The HP samples exhibit a remarkable high strength of ~ 925 MPa (HP at 673 K) and ~ 820 MPa (HP at 723 K) combined with a plastic strain ranging between 14 and 30%. The reduction in strength for the sample HP at 723 K is linked to the complete crystallization of the powder with no residual amorphous phase.