Alliance Airlines’ earnings before taxation, depreciation and amortisation for the 2018 fiscal year increased 20% to A$60.1 million ($44.7 million), as most of its business segments delivered strong growth.
Revenue for the year ended 30 June increased 23% to A$248 million as its revenue from wet-leasing aircraft to other operators more than doubled year-on-year.
Charter revenue “exceeded expectations”, driven by stronger demand from tourist clients, while contract revenue from resource industry clients increased 5% as a result of schedule increases from a number of new and existing clients.
While the operating result increased, the carrier’s net profit declined by 2% to A$18.1 million, driven by higher depreciation, amortisation and tax charges.
Cash and cash equivalents increased to A$11.8 million at the end of the period, up from A$3.5 million at the start of the fiscal year.
“It is an outstanding financial result driven by increased activity across all sectors,” commented chief executive Lee Schofield.
“Our strategy to diversify revenue is working. We continue to see increased activity in the resources sector with additional services for existing clients. We are also winning new work across all our flying categories.”