The Alliance Aviation Services Ltd
(ASX: AQZ) share price is up 2% so far with the company reporting that its half year profit flew higher.
Alliance Aviation is Australasia’s leading provider of contract, charter and allied aviation services currently employing more than 575 full time staff in Australasia and Europe. It providers charter flights for mining, energy, tourism and government sectors.
Alliance Aviation Services’ half year report
Alliance Aviation reported that total revenue increased by 18% to $137.8 million. Profit before tax went up 38% to $14.1 million and profit after tax increased by 39% to $9.8 million.
Total flying hours increased by 21% to 19,670, which was a large reason why the above figures went up so much.
Net debt was $48.5 million at the end of December 2018, which was a reduction of $4.9 million over the six months.
Alliance Aviation decided to increase the interim dividend by 172% to 6.8 cents per share.
Alliance CEO Lee Schofield said: “Alliance has again delivered a strong financial result driven by continued growth in demand for our services.”
The Alliance Aviation Services share price is up 10% over the past week or so because the market learned Qantas Airways Limited (ASX: QAN) has taken a 19.9% stake of Alliance.
Alliance Aviation is growing strongly, as are the ASX businesses in the free report below.
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