Font Size: A A A
Go to:
×
Voyage Search
General Shipping Search
Please select a port in Israel
Please select a port overseas
Exports from Israel
Imports to Israel
Tools & Calculators
Currencies
Update date: 14.11.2019
Currency Rate % Change
USD 3.495 -0.456
EUR 3.8483 -0.512
GBP 4.4872 -0.355
100 JPY 3.2116 -0.109
Currency calculator
Calculators
length area vol. weight
cm
m
km
inch
foot
yard
mile
Clear
square cm
square m
square km
square inch
square yard
square mile
Clear
cc
litre
cubic m
cubic inch
cubic yard
gallon
Clear
kg
short ton
long ton
lb
oz
Clear
Volume Weight Calculator
Ports' Workplan

El Al's Q2 Profits Soared

The airline's net profit for the quarter sood at US$16.3 million, up 340% from the corresponding quarter last year
24.08.14 / 10:42
El Al's Q2 Profits Soared
24.08.14
El Al's Q2 Profits Soared

El Al Israel Airlines Ltd. reported a huge jump in profit for the second quarter. The carrier's net profit for the second quarter of 2014 was US$16.3 million, up 340% from US$3.7 million in the corresponding quarter last year.

 

Second quarter revenue was US$571 million, up 7.9% from US$529 million in the corresponding quarter.

 

El Al said it earned less per passenger/kilometers, apparently due to the launch of its new low-cost brand Up, but it flew 9.2% more passengers in the three months than it did the same time in 2013.

 

Looking ahead to the third quarter when results will be hit by Operation Protective Edge, El Al said that it had asked the government for compensation. The rise in revenue in the second quarter was due to an increase in passenger traffic despite a drop in average passenger-kilometer ratios.

 

Cargo business fell 3.6% in the second quarter although there was a rise of 12.3% revenue from other sources, mainly selling aircraft food to external sources. Operational profit in the second quarter was US$24.6 million, up from US$6.9 million in the corresponding quarter of 2013.

 

The projected damage to El Al Israel Airlines Ltd. due to Operation Protective Edge is much greater than the carrier projected a few weeks ago, and, according to the airline's revised estimates, the drop in revenue for the third quarter of 2014 will be between US$55 million and US$65 million.

 

×