El Al Israel Airlines announces Q2 financial results

El Al Israel Airlines (TASE: ELAL) has announced that revenues in the second quarter of 2017 amounted to approx. USD 541 million, compared to approx. USD 537 million in the second quarter of the previous year, an increase of about 0.6%, the company said.

Gross profit in the second quarter of 2017 amounted to approx. USD 107 million, compared to approx. USD 124 million in the second quarter of the previous year, a decline of about 13%;

Operating profit in the second quarter of 2017 amounted to approx. USD 27 million, compared to approx. USD 51 million in the second quarter of the previous year, a decline of about 47%;

Net profit in the second quarter of 2017 amounted to approx. USD 16.4 million, compared to a profit of approx. USD 35 million in the second quarter of 2016, a decline of about 53%;

The number of flight segments in the second quarter of 2017 increased by approx. 2.4% compared to the second quarter of the previous year; the Company´s market share of passenger traffic at Ben Gurion Airport in the second quarter of the year was approx. 29.5%, compared to 34.2% in the second quarter of 2016;

Passenger Load Factor in the second quarter of 2017 stood at approx. 84.3%, compared to 83.1% in the second quarter of the previous year; the Company´s ASK (Available Seat Kilometer) declined by about 3% and RPK (Revenue Passenger Kilometer) decreased by about 1%;

El Al Israel Airlines Ltd. is the National Air Carrier of Israel. In 2016, El Al recorded revenues amounting to nearly USD 2 billion. El Al carries about 5.5 million passengers a year. The Company operates flights to about 34 direct destinations around the world and many other destinations by means of cooperation agreements with other airlines, thus it currently operates 43 aircrafts, of which 28 are owned by the Company.