Alliance Aviation Services reports half year results

Alliance Aviation Services, which provides contract, charter and allied aviation and maintenance services in Australia, has reported underlying net profit before tax of $20.7 million for the half year period, down $6 million compared to the year-ago period, on revenues from operations of $171.2 million, up $16.4 million over last year. The increase in total revenue in the half year was a result of growth in contract and wet lease activity. Wet lease activity grew significantly compared to prior comparative period (“PCP”) which resulted in revenue generation of $14.9 million however this was lower than forecast due to ongoing COVID-19