Alliance Aviation shares fall on downgraded profit guidance
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The news: Mining and energy fly in, fly out operator Alliance Aviation Services' shares tumbled after it lowered its profit guidance.
The numbers: Alliance Aviation shares were trading 5.2% lower at $2.57 by 3:00pm AEST. Over the past 12 months its shares have fallen 17.1%.
The company flagged during an investor day presentation that it had lowered its FY25 guidance for profit before tax from $92.9 million to a range of $80 million to $85 million.
However, its EBIDTA was raised from $202.1 million to a range of $205 million to $210 million.
The context: The air charter operator said its results were impacted by aircraft damage and protected industrial action as well as issues relating to the North Queensland Floods and Tropical Cyclone Alfred.
The source: ASX
