Commercial

Despite Obstacles in 2Q, El Al’s Profits Climb

By | August 20, 2014
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El Al Airlines Flight
El Al Airlines Flight. Photo: Wikipedia

[Avionics Today 08-20-2014] Israeli airline El Al released its 2014 second quarter financial report, with $571.5 million in revenue this quarter compared to $529.7 million for the second quarter of 2013 — an 8 percent boost. Profits also boomed, with a reported $16.3 million this quarter as opposed to $3.7 million for the same quarter last year.

"The results of the second quarter of 2014 are a reflection of the continued adaption of operations to the business environment. In 2014 Passover holiday was in the second quarter. El Al continued to significantly increase its operations, the supply of seats being increased by 13 percent compared to the equivalent quarter in the previous year, with only a slight increase in operating expenses of about four percent,” said David Maimon, El Al’s CEO.

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