Alliance Aviation
(ASX:AQZ) has announced it will stop providing contracted flights to OZ Minerals’
(ASX:OZL) operations at Prominent Hill in South Australia.
The Adelaide-based miner has given notice to Alliance Aviation that their contract will end on 11 August 2017.
Alliance says the end of its OZ Minerals contract will have no impact on FY17 results. The aviation company also said it received a significant contract exit fee to offset any future financial impact.
The company also says revenue from the OZ Minerals contract during the last 12 months was 5.8% of its total revenue, and it had been forecast to reduce significantly in FY18.
Yesterday, Alliance Aviation shares closed 2.14% lower at 68 cents.
