Alliance Aviation’s share price (ASX:AQZ) has risen as much as 3.6% to A$3.470, hitting their highest point since July 19 due to impressive fiscal year results.

The company posted a fiscal year profit of A$52.2 million, a significant turnaround from a loss of A$7.1 million the previous year.

Alliance Aviation also reported that total revenue from operations saw an increase of A$147.8 million to A$517.2 million.

Furthermore, the company retains a positive outlook for fiscal year 2024.

Shares in the company have risen 7% this year, as of last close, compared to a 4.5% rise in the ASX All Ordinaries index.

Alliance Aviation specializes in delivering a comprehensive range of aviation services, including aircraft charter, airline operations, and flight training programs.