18-Nov-2010 11:19 AM

El Al Israel Airlines revenue up 13%, profits double in 3Q2010

El Al Israel Airlines revenue up 13% - financial highlights for the three months ended 30-Sep-2010:

  • Revenue: USD561.2 million, +13% year-on-year;
  • Operating costs: USD426.2 million, +6%;
    • Fuel: USD160.1 million, +18%;
  • Operating profit: USD55.6 million, +134%;
  • Net profit: USD42.5 million, +245%;
  • Operating cash flow: USD46.6 million, compared with a negative cash flow of USD18.8 million in p-c-p;
  • Market share: 34%, -0.7 ppt;
  • Load factor: 83.8%, -1.3 ppts. [more]

El Al: “The gross profit increased by USD40 million and it increased from 19% to 24% of the total revenue. In addition to the increased operational efficiency we almost doubled the shareholder’s equity from USD124 million at the end of last year to USD211 million this quarter and an improvement in current assets of over USD100 million. We repaid USD21 million of our long-term loans this quarter and USD50 million since the beginning of the year,” Company statement. Source: El Al, 17-Nov-2010.

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