Alliance Aviation says it is on track to report better than expected profits after the number of fliers rose in the six months to June 30, with $100 million in new funding from financiers in the United States as it expands.

Shares in Alliance soared 14 per cent to $3.22 – their highest level since the Australian Competition and Consumer Commission blocked Qantas from acquiring the remaining 80 per cent of the company in April – in response.