Alliance Aviation jumps most in over 14 months on improved profit outlook

Alliance Aviation Services

13/07/2023 01:41

** Shares of Australia's Alliance Aviation Services  AQZ.AX 
rise as much as 12.4% to A$3.18, best day since May 2022 if
gains hold
    ** The airline operator says it now expects underlying FY23
net profit after tax to be A$56.9 million ($38.66 million),
compared with previous guidance of A$50 mln to A$55 mln
    ** Co also renews contract with local Aussie firm Incitec
Pivot  IPL.AX  for provision of eight weekly air services
between Townsville and its mine and operations at Phosphate Hill
in North-West Queensland
    ** AQZ hits highest since April 28
    ** AQZ has fallen 9.6% this year as of last close 


($1 = 1.4717 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))