Alliance Aviation Shares Climb Following Significant Insider Purchase
Shares in Alliance Aviation Services (AQZ) experienced a notable surge of over 7% following a significant insider transaction. The rally was prompted by the purchase of shares worth A$3.36 million by company director Lee Schofield. This move is widely interpreted by the market as a strong vote of confidence in the airline's future prospects. The purchase coincides with a positive earnings update from the company, which specializes in 'fly-in, fly-out' services for the Australian resource sector. Alliance Aviation now expects its underlying profit before tax to be significantly higher for the fiscal year.
Official Source: https://www.tipranks.com/news/catalyst/insider-buying-sends-alliance-aviation-services-shares-higher
Related Aviation News:
- This beaten-down ASX airline stock just saw insider buying
- Alliance Aviation Services Insiders Added AU$845.0k Of Stock To Their Holdings
- This beaten-down ASX airline stock just saw insider buying
- Alliance Aviation Services' AU$18m Market Cap Fall Books Insider Losses
- Alliance Witan (LON:ALW) Shares Down 1.1% - Here's What Happened