El Al Airlines 2Q2009 revenue down 28%

El Al Airlines revenue down 28% - financial highlights:

• Three months ended 30-Jun-2009:
  • Operating revenue: USD399.4 million, -28% year-on-year;
  • Operating costs: USD353.1 million, -28%;
    • Fuel: USD111.2 million, -48%;
  • Operating profit (loss): (USD24.5 million), compared to a loss of USD19.8 million in the previous corresponding period;
  • Profit (loss) before income tax: (USD31.6 million), compared to a loss of USD16.7 million in the previous corresponding period;
  • Net profit (loss): (USD19.7 million), compared to a loss of USD12.8 million in the previous corresponding period;
  • Passenger numbers*: -12%;
  • Load factor: 77.6%;
• Six months ended 30-Jun-2009:
  • Operating revenue: USD746.1 million, -27%;
  • Operating costs: USD681.0 million, -25%;
  • Operating profit (loss): (USD66.9 million), compared to a loss of USD67.1 million in the previous corresponding period;
  • Profit (loss) before income tax: (USD76.8 million), same as the previous corresponding period;
  • Net profit (loss): (USD59.6 million), compared to a loss of USD62.8 million in the previous corresponding period. [more]
• Passenger numbers at Ben Gurion Airport

El Al: "Revenues for the quarter totaled 9.4 million compared to 7.5 million in the equivalent quarter last year, a drop of about 28%. The drop in revenues derives mainly from the reduction in the average income per passenger/kilometer, due to the reduced fuel surcharge, resulting from the drop in the price of aviation fuel," Company statement. Source: El Al, 19-Aug-2009.