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El Al posts Q2 profit, revenue up

The airline earned USD$3.7 million in the April-June quarter versus a USD$6.1 million loss a year earlier; Revenue for the quarter were USD$529.7 million
19.08.13 / 00:00
El Al posts Q2 profit, revenue up
19.08.13
El Al posts Q2 profit, revenue up

El Al posted a profit in the second quarter as revenue rose despite increased competition from foreign carriers.

The airline said it earned USD$3.7 million in the April-June quarter versus a USD$6.1 million loss a year earlier.

Company revenue for the second quarter of 2013 rose 2.5% to USD$529.7 million, compared to $516.8 million in the second quarter last year, with higher passenger sales offsetting a decline in cargo revenue.

The ratio of gross profits to turnover increased from 15.1% to 15.5% and totaled US$82.0 million compared to US$78.1 million in the parallel quarter of last year.

Cash flow from Company activities during the second quarter of 2013 increased to about US$47.8 million, compared to US$14.1 million in the parallel quarter of last year.

The EBITDA in the current quarter totaled about US$31.9 million with a ratio to turnover of about6.0%, compared to US$29.7 million in the parallel quarter of last year. El Al maintained its market share during the quarter, with a slight increase from 33.7% to 33.8% (in the 2 nd quarter of 2012).

Operating expenses edged up 2% to USD$447.8 million, although jet fuel costs fell 4% .

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