News Column

BRIEF: El Al Q2 profit quadruples

August 14, 2014

By Kobi Yeshayahou, Globes, Tel Aviv, Israel

Aug. 14--El Al Israel Airlines Ltd. (TASE: ELAL) reported a huge jump in profit for the second quarter. The carrier's net profit for the second quarter of 2014 was $16.3 million, up 340% from $3.7 million in the corresponding quarter last year. Second quarter revenue was $571 million, up 7.9% from $529 million in the corresponding quarter.

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 $24.6 million, up from $6.9 million in the corresponding quarter of 2013.


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Source: Globes (Tel Aviv)

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