** Shares of Alliance Aviation rise as much as 4.2% to A$2.72, their highest level since Nov. 12

** The aviation services co executes binding contract with Airline Technical Support Caribe for the sale of 13 surplus Rolls-Royce engine cores

** Additionally, co executes two binding contracts with Scissortail Aviation and Bellinger Asset Management, covering the sale of six Embraer E190 airframes

** Stock has fallen 18.9% this year as of last close

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))