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El Al Airlines quarterly loss widens to US$32.5m

The airline said its revenue was hurt by Operation Pillar of Cloud - military conflict in the fourth quarter of 2013 as well as increased competition and higher operating costs
30.05.13 / 00:00
El Al Airlines quarterly loss widens to US$32.5m
30.05.13
El Al Airlines quarterly loss widens to US$32.5m

El Al Israel Airlines posts first-quarter net loss of US$32.5 million, compared with a loss of $23.3 million in the corresponding period last year.

The airline said its revenue was hurt by Operation Pillar of Cloud - military conflict in the fourth quarter of 2013 as well as increased competition and higher operating costs.

Revenue rose to US$431 million from US$429.1 million. Revenue from passengers increased 2% while revenue from its cargo business fell 11.5%.operating costs rose 1% to US$393.1 million as its jet fuel expenses grew by 4.8%.

The operating loss widened to US$36.3 million for the first quarter from US$23.8 million for the corresponding quarter, and the net loss widened to US$32.5 million from US$23.2 million.

Cash flow from operations rose to US$80.5 million for the first quarter from US$65 million for the corresponding quarter. Its load factor – a measure of seats sold – rose to 81.7% from 81.2%, while its market share at Ben-Gurion International Airport slipped to 34.7%.

Its load factor – a measure of seats sold – rose to 81.7% from 81.2%, while its market share at Ben-Gurion International Airport slipped to 34.7%.

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