Australian airline Alliance Airlines reported a record profit for FY 2021.

Company’s statutory profit before tax is $48.3 million, a 19% rise from FY 2020, the report states.

Alliance’s financial year ended on June 30, landing FY 2021 squarely within the period of massive loss for many of the world’s airlines. 

Nevertheless, the company managed to increase its financial standing across the board, with 3% increase in revenue, 73% increase in underlying operating cash flow, and a significant rise in profit.

Alliance also acquired 6 additional aircraft and increased its staff number by 50, demonstrating larger expansion than between FY 2019 and FY 2020.

Alliance Airlines is an Australian carrier operating scheduled services across the country, as well as providing aircraft leasing and other aviation-related services. The company operates Fokker 100 and Fokker 70 regional jets, as well as Fokker 50 turboprops. Recently it started modernizing its fleet with second-hand Embraer 190s.