** Shares of Alliance Aviation Services AQZ.AX fall as much as 8.6% to A$1.325, their lowest since March 26, 2020

** Stock extends losses after falling 42.7% on Friday and is now among the worst performers in ASX All Ordinaries index .AORD

** The aviation services provider expects FY26 profit before tax between A$46 million ($29.89 million) to A$50 million, lower than A$82.1 million recorded last year

** Says lower profit expected due to higher depreciation charges and rising repair and maintenance costs

** Alliance Aviation Managing Director Scott McMillan brings forward his resignation and CFO Andrew Evans also decides to step down

** Trading volumes 2.3x the 30-day average of 491,012 shares

** Stock down ~52% YTD, including day's moves

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))