Alliance Aviation Services has delivered a net profit after tax of $9.8 million for the first half of the 2019 financial year.
The profit result was a 39 per cent increase on the prior corresponding period, while its total revenue was up 17 per cent to $137.5 million.
Alliance’s wet lease revenue rose a whopping 105 per cent in the first half of FY19, which was due to flying performed for a number of operators both domestically and internationally.
Regular passenger transport revenue was up 19 per cent, charter revenue grew 10 per cent, aviation services revenue increased by six per cent, and contract revenue rose four per cent.
Alliance’s earnings before interest, tax, depreciation and amortisation rose 13 per cent in the first half of FY19 to $31.2 million.
The company also increased its number of aircraft in service from 31 to 38, and its average staff numbers from 473 to 529 over the period.
The results come shortly after Qantas acquired a 19.9 per cent stake in Alliance for $60 million.
Alliance CEO Lee Schofield said the company’s team had done a “fantastic job” in the first half of FY19, which saw a record 16,790 flying hours performed, and expects the second-half of the year to be even better.
Schofield noted that tourism continues to be a focus of new revenue generation now and into the future.
“Our offering and operational expertise provides a compelling offering for tourist operators wanting to access regional Australia,” he said.
“The Tauck and JTB contracts are more than a ‘proof of concept’ – they are important contributors to our financial and business performance.”